Meta might launch its first smartwatch this year

Meta, the parent company of Facebook, might launch an Apple Watch competitor this year.

According to a report by The Information, the smartwatch is code-named 'Malibu 2,' and will come with health-tracking tools, similar to the ones seen on other popular smartwatches, including Apple Watch. A Meta AI assistant will be built into the watch's software.

The number two in the code name might refer to an earlier smartwatch project which was ultimately shelved. That watch was said to come with a built-in camera, but there's no word on whether the new watch will have that feature.

Details around the watch are scarce. However, it's not too far fetched of an idea, given that Meta already has a lineup of VR headsets and accompanying accessories, as well as the Ray-Ban Meta and Oakley Meta smart glasses. The Meta smartwatch could, for example, be used for gesture-based control of the gadgets above.

Meta has been cutting costs on its virtual reality efforts, having recently laid off more than 1,000 employees who were working on the company's vision of the metaverse. Meta CEO Andrew Bosworth said at the time that the company would refocus its metaverse efforts on wearables, which might explain its renewed interest in smartwatches.