Summary of Key Points
Apple's first smart glasses, the N50 (codenamed), were originally scheduled to be released at the end of 2026 but have now been postponed to the end of 2027. The main reason for this delay is that the upgraded version of Siri, the intelligent assistant, has not met expectations. Apple's goal is not to compete with Meta in the niche smart glasses market; instead, it aims to disrupt the entire traditional glasses market, particularly the mainstream price range of $200-$500 (approximately 1300-3400 RMB), similar to how the Apple Watch successfully took over the mid-range watch market. This project was Cook's top priority before his resignation and will also serve as the "first report card" for the incoming CEO, Tim Cook. However, Apple's AI capabilities are insufficient, and the delays with Siri have impacted other products as well. Meta has already gained an advantage through its offline channels and AI features. Apple's closed ecosystem may further hand the market over to its competitors.
Detailed Analysis
#### 1. Apple's Ambition: Not to Compete in the Small Smart Glasses Market, but to Dominate the Traditional Glasses Market
Apple does not see Meta's smart glasses (such as those in collaboration with Ray-Ban) as a serious threat; instead, it targets the "ordinary glasses" that people wear every day. The traditional glasses market, with prices ranging from $200-$500, is dominated by companies like Essilor and Sauvetta. Apple believes this market is even larger than the Apple Watch market (which generates $17 billion annually). Therefore, it does not want to get involved in the smart glasses fray but rather wants users to choose Apple products when buying glasses, just as they switched from Swatch to Apple Watch.
In other words, Apple's goal is not to create "smart glasses" per se, but to develop products that can replace ordinary glasses. For example, your prescription or sunglasses could eventually become part of the Apple N50 ecosystem.
#### 2. The Reason for the Delay: Siri Is the Biggest Weakness
The delay in the release of the N50 is not due to hardware issues but rather because the software, especially Siri, has not met Apple's standards. Apple planned for the N50 to rely heavily on "visual AI" and personalized services. For instance, Siri could provide information about a building you see or recommend dishes based on a menu, and it could even monitor changes in your vision. However, the continuous delays with the upgraded Siri have affected other products such as the camera-equipped AirPods, the new Apple TV, and the HomePod mini, which were all ready but had to wait for Siri and Apple Intelligence to be launched together.
Apple is now eager to release a standalone Siri app in iOS 27, featuring a chat interface similar to ChatGPT that supports text, voice, and attachments. Whether this will be available by the end of 2027 remains uncertain.
#### 3. Replicating the Apple Watch's Success: The Same Strategy for the Glasses Market
Apple has successfully used this approach before with the Apple Watch. When the watch was first released in 2015, it was considered a niche product. Instead of focusing on the high-end market, Apple targeted the mid-range segment below $1000. As a result, Swatch's revenue decreased by 28% and Fossil's stock plummeted by 70%, while luxury brands like Rolex and Patek Phillipe were hardly affected.
Apple believes the same strategy will work for the glasses market: luxury brands like Cartier and Dita, which sell for thousands of dollars, will not be significantly impacted, but mid-range brands like Ray-Ban and GM could be replaced by Apple's smart glasses. These products would offer more functionality than traditional glasses at a mainstream price.
#### 4. The Bet of the Two CEOs
The N50 project has received high-level support within Apple. It was Cook's top priority before his resignation and was intended to replace the less successful Vision Pro (which was too expensive and bulky for most consumers). Tim Cook, the new CEO, is also a key promoter of this project. The success of the N50 at the end of 2027 will determine the direction of Apple's future: whether it will continue to rely on the iPhone or find another growth driver like the Apple Watch.
Apple's true AR glasses (with display capabilities) are not expected until 2030, and a lighter version of the Vision Pro is scheduled for 2028-2029. Therefore, the N50 represents Apple's main bet on wearable devices in the coming years.
#### 5. Meta Has Taken the Lead: Meta's Offline Presence and AI Advantages
Meta has already taken the lead by collaborating with offline glasses retailers like LensCrafters to offer smart glasses for testing. Its AI features, such as real-time translation and object recognition, also surpass those of Apple. Apple's closed ecosystem means that N50 will likely only work with Apple devices, excluding Android users. If Apple continues to delay, Meta may establish user habits before its glasses are released.
The real challenge for Apple is not whether the technology can be developed but whether it can overcome its AI shortcomings by the end of 2027. If Siri does not improve, even if the hardware is excellent, the N50 might end up being another product that receives praise but fails to attract widespread adoption.
In Conclusion
Apple aims to disrupt the traditional glasses industry with smart glasses, but first, it needs to fix the issue with Siri. Otherwise, Meta could potentially take over this market.