We are all used to the fact that over time gadgets lose their value, instead of becoming more expensive. Especially those models that came out a few years ago. Unfortunately, the new economic reality caused by the consequences of the pandemic and the full-scale Russian invasion of Ukraine is preparing the world for higher prices, even for older devices.

The Meta company announced that starting August 1, it will immediately increase the price of the Quest 2 VR headset by $100 – from $299 to $399, which was first introduced in October 2020. And this is for the base version with 128 GB, the model with 256 GB will cost even more – $ 499.

Meta stated that they raised the price of the virtual reality headset “to continue to invest for the long term and keep driving the VR industry forward.” Adding on the corporate blog that “the costs to make and ship our products have been on the rise.”

“By adjusting the price of Quest 2, we can continue to grow our investment in groundbreaking research and new product development that pushes the VR industry to new heights,” Meta said.

In the first quarter, the Meta Reality Labs division, which includes virtual reality headsets, reported revenue of just $215 million, compared with $27 billion in Facebook ad sales. Meanwhile, Reality Labs posted an operating loss of $2.96 billion, writes CNBC.

According to research by analyst firm Counterpoint, Meta shipped more than 10 million Quest 2 headsets in 2021, surpassing other VR headset companies such as Sony and HTC. The firm said the Quest 2’s relatively low price of $299 made the device more attractive to consumers. Now it will be difficult for the Meta to get back to this level.