$Apple (AAPL.US)$ is reportedly ramping up its efforts to compete with $Meta Platforms (META.US)$. The iPhone maker's discounted version of the first-generation mixed-reality headset, Vision Pro, could be ready by next year.

What Happened: Over the weekend, in his latest "Power On" newsletter Bloomberg columnist Mark Gurman reported that Apple's Vision Pro team is working on at least four new devices that address current criticisms.

Apple's headset faces issues such as heavy weight, expensive price tag, and sometimes too hot to touch.

According to Gurman, Cupertino's new devices include a low-cost headset expected to launch next year and a second-generation Vision Pro set to release in 2026.

Priced at around $2,000, the low-cost variant of Vision Pro is anticipated to double the unit sales of the product.

Moreover, Apple is also considering launching smart glasses to compete with Meta's Ray-Bans and AirPods equipped with cameras by 2027, the analyst stated.

"The bigger problem for Apple right now is that it's not getting new technology out the door quickly enough," Gurman noted, adding, "It's [Apple] no longer the leader in several critical new technologies, and that's scary."

Why It Matters: While Apple is struggling, Mark Zuckerberg's Meta has seen success with its affordable and lightweight Ray-Ban smart glasses.

Last month, Meta also unveiled new AI features and holographic Orion glasses, which Zuckerberg described as the first-ever full holographic augmented reality glasses.

Earlier it was also reported that Oculus founder Palmer Luckey and Meta might be mending fences, which could lead to innovations. Both Zuckerberg and Luckey have suggested their openness to work again.

Meanwhile, Apple previously also rejected a proposal from Meta to integrate its AI chatbot, Llama, into the iPhone, citing privacy concerns.