Intel planning on selling majority stake in augmented reality segment

Intel Corp., is planning on selling most of it’s stake in augmented reality business. Intel will come up with it’s first smart glasses soon this year.

The company is intending to invest $350 million on this project. The company are approaching multiple investors to work on this project. The smart glasses will have the Bluetooth feature to connect to the smart phones. The glasses will be able to display information into the wearer’s field of sight with a laser based projector. The projector will reflect into the retina of the eye sources said. Intel is in contract with Tiwan’s Quanta ComputersInc. The product is reported named as Superlite.

Intel has recently been failing in making progress in the market for wearable technology. Due to this, Intel has shut down the Recon augmented-reality goggles business that it acquired in 2015. Some of the formal employees are now a part of the product. The employees are about 200 from different countries such as U.S., Switzerland and Israel.

The company is constantly finding business connections who can partner with the company and increase the market sales channel. Chief Executive Officer Brian Krzanich is working on making the company to venture into new market after dominating the chip industry. The company had a revenue of $62.8 billion last year.

Goldman Sachs Group Inc., estimates that the future is augmented reality and the market could be worth of as much as $110 billion by 2025, with another $72 billions in the revenues.