Apple Sets Guidelines for Vision Pro Apps, Samsung Reports Profit Decline

Apple has unveiled its guidelines for developers aiming to create apps for the soon-to-be-released Vision Pro VR/AR headset. The trailblazing tech-giant has specified that apps need to be referred to as 'spatial computing apps', eschewing the more common terms such as AR, VR, XR, or MR. The headset itself, set to hit the market on February 2nd, is to be denominated as 'Apple Vision Pro', and the operating system will be known as 'visionOS' with a lowercase 'v'. These names are not to be translated or transliterated, indicating a strategy by Apple to differentiate its product from other VR/AR devices.

Apple's Vision for the Vision Pro

Despite having previously used AR/VR terms to describe the headset, Apple now aims to mark a distinct territory in the spatial computing domain. The Vision Pro, priced at a lofty $3,495, offers a three-dimensional user interface and a stereoscopic display system. It operates hands-free and provides access to over 1 million existing iOS and iPadOS apps, along with a new App Store specifically for spatial computing. Apple's guidelines also request developers to indicate if their apps involve certain movements, in order to provide appropriate warnings to users. Additional information on privacy labels and game controller usage has also been included in the briefing to developers.

Tech Industry Updates

In other tech news, Samsung Electronics Co. reported its sixth consecutive quarter of declining operating profit, raising concerns about the timing of a potential tech recovery. Meanwhile, the global Governance, Risk Management, and Compliance (GRC) software market continues to draw venture capital investments, with Anecdotes being one of the latest beneficiaries.

Investments and Market Movements

AppDirect Inc. has also made significant strides, securing $100 million in debt financing to bolster its growth. Elsewhere in the market, Zee Entertainment Enterprises Ltd. saw its shares recover after reaffirming its merger plans with Sony Group Corp.'s India unit. Nvidia is planning to commence mass production of an AI chip for China, in line with U.S. export rules. However, Apple Inc.'s iPhone sales have seen a decline in China, with Jefferies analysts predicting further reductions this year. The Philippines grapples with state-sponsored cyberattacks and resource limitations to tackle them. Lastly, Bank of America has placed a valuation of a whopping $107 billion on an unspecified entity.