07:35 AM EDT, 09/26/2024 (MT Newswires) -- Meta Platforms' ( META ) prospective investment in eyeglasses maker EssilorLuxottica is "more of a symbolic" gesture to build a long-term partnership, Meta Chief Executive Mark Zuckerberg told The Verge Wednesday.

"I think that they're [EssilorLuxottica] going to go from being the premier glasses company in the world to one of the major technology companies in the world," Zuckerberg told The Verge.

Zuckerberg also said that Ray-Ban Meta glasses are seeing high demand and it is difficult to "gauge" what the actual demand is since they are sold out.

"We thought that Ray-Ban Meta was probably going to sell three or five times more than the first version did. And we just dramatically underestimated it," the Meta CEO said.

The two firms extended their partnership earlier this month under which they will collaborate into the next decade to develop smart eyewear products.

(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.)

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