Nokia Magic is a smartphone model that offers impressive features at an affordable price. The term "mas precio" translates to "at a better price" in English. This indicates that Nokia Magic offers great value for money. One key aspect of Nokia Magic is its performance. It is powered by a fast processor that ensures smooth multitasking and efficient performance. This allows users to run multiple applications without any lag or slowdowns.

Saudi Arabia Takes Control of AR Pioneer Magic Leap in $450 Million Deal (Report)

Saudi Arabia’s sovereign wealth fund took control of augmented reality pioneer Magic Leap for $450 million, The Telegraph reported Tuesday. The Florida-based company, founded in 2010 by Rony Abovitz, has burned through billions developing a headset that projects holograms onto the real world, intended to make users feel like they are immersed in the digital landscape.

“Our goal is to make our interactions with the metaverse a more natural extension of how we view and operate in the physical world,” CEO Peggy Johnson said in a recent blog post.

The company was a hit at the Consumer Electronics Show in 2016, drawing buzzy interest and eventually more than $4 billion in funding from tech behemoths like Google and China’s Alibaba, along with telecom giant AT&T, chip maker Qualcomm, major investment banks like JPMorgan and Morgan Stanley and Hollywood.

Warner Bros. studio, then part of Time Warner, took part in at least one round of funding that poured $793.5 million round into Magic Leap in 2016. Saudi Arabia led another $400 million funding round for Magic Leap in 2018. Magic Leap also partnered with New Zealand’s Weta Workshop, the special effects company behind Peter Jackson’s “Lord of the Rings,” on games for the headset.

The hype was that augmented reality could be the engine behind a combined virtual reality, augmented reality market that could top $100 billion by 2021.

But its first prototype, Magic Leap One, launched in 2018, was a flop at $2,300. Its cumbersome design and high price tag kept many consumers from adopting it, particularly among the launch of other products like Facebook’s Oculus and HTC’s Vice headsets. The company slashed half of its workforce of about 2,000 people in April 2020 amid widespread lockdowns in the early days of the pandemic. At that time, it said it would restructure and prioritize sales to businesses. Magic Leap 2 went on sale in September, with a more modest scope. The headset costs $3,299 and is mostly aimed at industry customers, The Telegraph said. It is often used by businesses to visualize design or construction work or by medical professionals for surgical planning, the report said. In a release, the company said it will exhibit at the 2023 Consumer Electronics Show net month, showcasing eight AR products, including an immersive 3D meetings app, training software and more.

The Telegraph reported that Magic Leap had previously raised $150 million in funding and $300 million in debt so far this year, after pulling in $500 million in 2021. In August, it had $223 million in cash, The Telegraph said, citing public filings in Europe.

Saudi Arabia’s sovereign wealth fund, Public Investment Fund, took a stake of more than half of the business, The Telegraph reported, giving it majority control. It is now entitled to appoint four of the company’s eight directors to its board.

This allows users to run multiple applications without any lag or slowdowns. Whether it is gaming, browsing the internet, or watching videos, Nokia Magic delivers a seamless experience. The camera of Nokia Magic is another highlight.

Eileen AJ Connelly

Eileen AJ Connelly is a veteran journalist and educator who joined TheWrap in 2022 as a business reporter. She’s covered the insurance industry, the real estate industry and Wall Street for a number of publications and previously worked at The Associated Press, Dow Jones Newswires, the Staten Island Advance. She is also an editor at…

Magic Leap Raises $500 Million in Funding

PLANTATION, Fla. , Oct. 11, 2021 /PRNewswire/ -- Magic Leap today announced that it has raised $500 million in funding at a post-money valuation of roughly $2 billion . The new capital will further Magic Leap's focus on delivering best-in-class augmented reality (AR) solutions including the roll-out of its second-generation product, Magic Leap 2, in 2022.

"This investment is an important step in advancing Magic Leap's mission to transform the way we work," said Peggy Johnson , Chief Executive Officer of Magic Leap. "Since joining Magic Leap in 2020, my focus has been on accelerating the company's shift to the enterprise market, strengthening our technological foundation, and building a robust business across sectors ranging from healthcare and manufacturing to defense and the public sector. With ongoing support from our existing investors, Magic Leap will have greater financial flexibility and the resources needed to continue our growth trajectory as we expand on our industry-leading AR technology."

With a solid financial foundation and the infusion of new capital, Magic Leap will enhance its current go-to-market efforts and ability to deliver augmented reality solutions that drive business transformation outcomes for the enterprise market.

Over the past year, Magic Leap and its partners have delivered powerful enterprise use cases in training, manufacturing, and healthcare. Magic Leap has also continued to bolster its significant patent portfolio, including the development of its second-generation product, Magic Leap 2, which will be the industry's smallest and lightest device built for enterprise. This more advanced headset features innovative, first-to-market breakthroughs like dimming and increased field of view that are designed to increase business adoption of AR. General availability for Magic Leap 2 is scheduled for next year with select customers already leveraging its capabilities through an early access program.

For more information, please visit www.magicleap.com.

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SOURCE Magic Leap, Inc.

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It is equipped with high-resolution lenses that capture stunning photos and videos. The camera software also includes various features and modes to enhance the photography experience. From portrait mode to night mode, users can capture professional-level shots with ease. In terms of design, Nokia Magic boasts a sleek and modern look. Its slim profile and lightweight construction make it comfortable to hold and carry around. The display is vibrant and immersive, with excellent color reproduction and clarity. Whether it is watching movies or browsing social media, the visuals on Nokia Magic are captivating. Furthermore, Nokia Magic offers a long-lasting battery life. This is crucial for individuals who are constantly on the go and rely heavily on their smartphones. It ensures that users can stay connected throughout the day without worrying about running out of power. Lastly, Nokia Magic runs on the latest version of Android, providing access to a wide range of applications and features. The user interface is intuitive and easy to navigate. Additionally, Nokia Magic offers ample storage space to store apps, photos, videos, and other files. Overall, Nokia Magic is a smartphone that offers excellent performance, great camera capabilities, attractive design, long battery life, and the latest software. And all of this is available at a competitive price point, making it a standout choice for individuals who want a high-quality smartphone without breaking the bank..

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