One of the first businesses to produce consumer-grade mobile phone systems, Nokia currently thinks that the metaverse will lead to a decline in the use of phones. Users will be able to engage in a variety of interactions through these metaverse experiences, which will be enabled by the usage of virtual reality (VR) headsets and augmented reality glasses. Additionally, industrial use will also be significant.
The metaverse is expected to bring the fall of the current mobile phone trend, according to Nokia, one of the first manufacturers to develop a mobile phone system. In the second half of the decade, while phones will still be around, metaverse interactions will be the primary form of communication.
Although there is still much to be done with augmented reality technology, Nokia predicts that there will be a growth in consumer interest in such technology, which will power the metaverse push. Nishant Batra, the chief strategy and technology officer at Nokia, is optimistic about this. He stated:
“Our belief is that this device will be overtaken by a metaverse experience in the second half of the decade”.
However, according to Batra, there are several factors that must be met for this metaverse-based future to come to fruition.
Keys for Nokia’s Digital Future
In the consumer space, Nokia thinks that a number of important factors, including the push that organizations like Meta are making to make the metaverse a trend, will determine how quickly this digitally based world develops. Additionally, customers are more concerned about price and forms than institutions, as the executive has already noted. He explained:
“Widespread adoption of the technology from both corporations and consumers will be critical for it to really take off, and this will also depend on the availability of affordable, ergonomic wirelessly connected VR and AR devices”
As a result of Meta raising the price of its standard Headset to $400 in July, the cost of well-known metaverse headsets has recently gone up. The company also introduced a premium option earlier this month called the Quest Pro VR, which costs $1,500.
However, the company predicts that the metaverse will be fragmented, making its monetization difficult to achieve. Instead, it expects that the development of various use cases for metaverse experiences and devices would determine the metaverse's ability to generate revenue. Considering that several use cases are currently being investigated, industrial adoption will be explored.
Nokia predicts that all this connectivity will create security holes, and the company is also working to secure users in the metaverse.