The company’s current model, the Quest 2, retails for $299 or $399 depending on storage.

Oculus and the metaverse

Oculus, which Facebook bought for $2.3 billion in 2014, has become central to Meta’s planned transformation from social media giant to metaverse pioneer. In October, Meta CEO Mark Zuckerberg laid out his vision for the metaverse, an immersive next generation version of the internet powered by virtual and augmented reality. Zuckerberg presented a detailed but not-yet-built vision of the metaverse through Oculus goggles.

Oculus’ Christmastime success could also be attributed to a shortage in video game consoles like Sony’s PlayStation 5 and Nintendo’s Switch OLED, KeyBanc’s Patterson wrote in an analyst note. The global chip shortage and high consumer demand have made video game consoles, ever popular holiday gifts, hard to come by.

Meta did not immediately respond to a request for data about its holiday sales, but its devices are among the most popular in VR. Oculus is cheaper than much of the competition—HTC’s Vive Pro 2, for example, retails for $799—and is considered an industry standard.

This article was updated to include data from Sensor Tower.

📬 Sign up for the Daily Brief

Our free, fast, and fun briefing on the global economy, delivered every weekday morning.