07:06 AM EST, 01/22/2025 (MT Newswires) -- Meta Platforms ( META ) is working to upgrade its smart glasses and explore new wearable devices like watches and camera-equipped earbuds to integrate more artificial intelligence features in its product, Bloomberg reported Wednesday, citing unnamed people familiar with the matter.

The company will launch Oakley-branded smart glasses for athletes this year and is planning high-end glasses with a built-in display this year, the report said.

Additionally, Meta is developing new products to compete with Apple's (AAPL) smartwatch and AirPods, Bloomberg reported.

One of the key updates is the 'Hypernova' smart glasses, a higher-end model with a display that projects information onto the right lens, allowing users to run apps, view notifications, and see photos, according to the report.

The new model, expected to cost around $1,000, would be a significant upgrade over the current Ray-Ban glasses, which start at $299, Bloomberg said.

Meta did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)