The smart spectacles market is gaining momentum, according to the latest article in the Economist. Italian company Luxotica entered into a partnership with Meta to develop an improved version of Ray-Ban glasses which will have a better camera and longer battery life. The glasses allow wearers to capture and share their perspective, while also incorporating an in-built virtual assistant.

Another significant focus for Luxottica is the development of spectacles with built-in hearing aids, which are set to be launched in August. This aims to meet the needs of the approximately 1.25 billion people worldwide with moderate hearing loss who often avoid traditional hearing aids due to stigma and high prices. Luxottica intends to offer spectacles that resemble regular glasses and are priced significantly lower than conventional hearing aids.

While the success of Luxottica's smart glasses and hearing aid spectacles remains to be seen, their determination, combined with technological advancements and potential market demand, positions the company to make significant strides in both sectors.

Source: The Economist