There is breaking news on Google Glass out on Thursday afternoon. Italian eyewear firm Luxottica has been tapped as a partner to create the next version of Google Glass, according to co-CEO Massimo Vian, who was addressing investors at the company’s general meeting in Milan on Thursday.
Vian went on to say that the new version of Glass is in advanced development and should be launched in less than a year.
The ExodusPoint Partners International Fund returned 0.36% for May, bringing its year-to-date return to 3.31% in a year that's been particularly challenging for most hedge funds, pushing many into the red. Macroeconomic factors continued to weigh on the market, resulting in significant intra-month volatility for May, although risk assets generally ended the month flat. Macro Read More
When asked about Vian’s comments, a Google spokeswoman noted “the team is heads down building the future of the product,” but would not make a specific comment.
Statement from Luxottica CEO
“In Google, there are some second thoughts on how to interpret version 3 [of the eyewear],” Vian explained to shareholders at the meeting. “What you saw was version 1. We’re now working on version 2, which is in preparation.”
More on Google Glass
As reported by ValueWalk back in January, Google decided to stop selling its initial version of Glass and closed down its Explorer program. The firm also moved Google Glass out of its Google X research lab and into a standalone unit at the same time.
The changes sparked speculation that Google would abandon Glass given problems with wearability and serious personal privacy concerns. However, Google Executive Chairman Eric Schmidt told The Wall Street Journal some time back that Google Glass is now under the control of Tony Fadell, head of Google’s Nest connected home division, whose job is “to make it ready for users.”
Back in January, Glass project head Ivy Ross told the media that the new version of the wearable device will be less expensive and have a longer battery life, better audio quality and a significantly improved display. Analysts also note that the tech titan is also trying to undercut the social stigma associated with Glass by integrating the device into more familiar types of eyewear.