What Xreal does

XREAL is a Beijing-headquartered consumer augmented reality (AR) glasses company founded in 2017 by Dr. Chi Xu, manufacturing and selling lightweight tethered AR glasses globally under the XREAL, ROG XREAL, and xbx (X by XREAL) sub-brands. The company designs and produces a full-stack hardware platform that combines proprietary components — the in-house X1/X1S spatial computing chip with a dedicated NPU, the patented X-Prism optical engine (57° FOV), and a split-compute architecture pairing glasses under 95g with an external compute source — alongside Sony Micro-OLED displays, Bose-tuned audio, and either the proprietary NebulaOS or Google's Android XR operating system. Product lines span entry-level AR display glasses ($199 Beam Pro) and the budget xbx a01 ($299), through the XREAL 1S, One, and One Pro flagships ($449-$599), to the gaming-focused ROG XREAL R1 ($849) co-developed with ASUS, and the upcoming premium Android XR-based XREAL AURA (capped at $1,500).\n\nThe company monetizes primarily through direct-to-consumer hardware sales via its own e-commerce storefront (us.shop.xreal.com / xreal.com), augmented by flagship retail partnerships (Best Buy exclusive US partner for AURA, John Lewis in the UK), Amazon marketplace listings, the ASUS ROG gaming channel, and a regional B2B sales motion for enterprise bulk orders across North America, Japan, and Korea. A creator/affiliate program (XREAL Visionaries) provides an additional referral-commission revenue layer. Geographic mix is heavily international: 70%+ of 2025 revenue came from overseas markets, led by the US (36.9%), Japan (14.6%), and Europe (13.8%). Distribution spans 40+ countries, supported by regional offices in Tokyo, Los Angeles, and Seoul, a manufacturing facility in Wuxi, and a developer ecosystem via the Android XR Catalyst Program and developer.xreal.com SDK.\n\nXREAL held the #1 position in global AR glasses market share by revenue for four consecutive years (2022-2025) at 27% share per iResearch, and #2 in the broader global smart glasses market in 2025 behind Meta's Ray-Ban line. 2025 revenue was CNY 516 million (~$71M USD) per the Hong Kong IPO prospectus, with gross margin expanding to 35.2% and adjusted net loss narrowing 36% year-over-year, though cumulative losses exceeded CNY 2 billion across 2023-2025. The company filed for a main board listing on the Hong Kong Stock Exchange on April 1, 2026, with CICC Capital and Citigroup as joint sponsors.

Name

Xreal

Legal name

XREAL, Inc.

Website

https://xreal.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

501–1,000 employees

Short description

XREAL is a Beijing-based consumer AR glasses company that designs and sells lightweight tethered AR hardware spanning budget (xbx a01), flagship (XREAL One/1S/Pro), gaming (ROG XREAL R1), and premium Android XR (AURA) tiers, selling globally across 40+ countries via its own e-commerce store, Best Buy, John Lewis, and the ASUS ROG channel.

Ownership category

akta.pro rank

Product category

Consumer Augmented Reality Glasses

NAICS

Computer and Peripheral Equipment Manufacturing (33411), Computer Terminal and Other Computer Peripheral Equipment Manufacturing (334118), Computer Systems Design Services (541512)

SIC

Household Audio & Video Equipment (3651), Optical Instruments & Lenses (3827), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

VR/XR Hardware & Accessories (Headsets, Controllers, Trackers, Haptics) (MPAFAGAG)

akta.pro secondary industries

AR/VR & Spatial Computing (SLAM, 3D vision) (HDAAAEAJ), AR/MR Headsets for Gaming (CRACAOAF), VR/AR Gaming Hardware (Headsets & Controllers) (HDACANAD), VR/AR Gaming Platforms (BPAMAKAG)

Keywords

• Augmented reality glasses
• Consumer AR hardware
• Spatial computing devices
• Mixed reality headsets
• Smart glasses

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices5 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Consumer AR Glasses Hardware Sales: XREAL's primary revenue stream is the one-time sale of consumer AR glasses and related hardware (XREAL 1S, XREAL One Pro, XREAL One, XREAL Air 2 series, XREAL Beam Pro, XREAL Eye, ROG XREAL R1, X by XREAL xbx a01) via its own e-commerce store and authorized retailers, plus reservations and pre-orders for upcoming devices like XREAL AURA. Pricing ranges from $199 for the Beam Pro to $849 for ROG XREAL R1 and $1,500 cap for AURA.
2. Accessories and Bundles: Cross-sell revenue from companion hardware and bundle SKUs such as XREAL Hub, XREAL Neo, XREAL Eye AR Sensing Module, Beam Pro bundles with XREAL One ($698-$798) and XREAL One Pro ($798-$898), and prescription lens inserts.
3. Enterprise and Bulk Sales: Dedicated B2B channel for volume orders and business inquiries, including enterprise purchases of XREAL AURA across supported launch regions (US, UK, EU member states, Japan, South Korea), with a dedicated [email protected] contact path and regional BD contacts in North America, Japan, and Korea.
4. Creator/Affiliate Referral Commissions: Performance-based commissions paid to XREAL Visionaries creator-program members who generate referred sales, an opt-in affiliate revenue layer on top of direct hardware sales.

Pricing tiers

Go-to-market motion5 records

Distribution channels7 records

Core offering

XREAL designs, manufactures, and sells consumer augmented reality (AR) glasses and companion spatial computing hardware. Its portfolio spans lightweight tethered AR glasses (XREAL 1S, One Pro, One, Air 2 series), a spatial computing terminal (XREAL Beam Pro), detachable sensing modules (XREAL Eye), a co-branded gaming pair (ROG XREAL R1), and the Android XR-powered XREAL AURA headset. Core products feature proprietary optical engines (X-Prism) and a custom X1 spatial computing chip with on-device AI for 2D-to-3D conversion and sub-3ms motion-to-photon latency.

Differentiator

Problem solved

Functional benefit

Brands

• xbx (X by XREAL): Sub-brand for budget-friendly AR display glasses, launched in May 2026 with first product a01 priced at $299.
• ROG XREAL R1

Products and services

• XREAL 1S Premium tethered AR display glasses featuring the proprietary X1 spatial computing chip, 120Hz refresh rate, 700 nits brightness, and native 2D-to-3D conversion for consumers seeking a portable immersive display. Priced at $529 list (with Amazon Prime Day discounts to $449).
• XREAL One Pro Flagship consumer AR glasses equipped with XREAL's patented X-Prism optical engine and proprietary X1 spatial computing chip for tether-free 3DoF spatial anchoring, designed as an everyday wearable spatial display. Permanent retail price of $599.
• XREAL Beam Pro Spatial computing terminal that acts as an Android-based compute companion for XREAL AR glasses, with dual 50MP 3D cameras and Google Play Store access to run 2D apps in 3D spatial environments. Standalone pricing starts at $199 (128GB Wi-Fi), $249 (256GB Wi-Fi), $299 (256GB 5G); bundles with One / One Pro available.
• XREAL Eye 1.35g detachable module for XREAL One Series glasses that adds native 6DoF spatial anchoring, a 12MP first-person camera for photo and video capture, and AI perception capability to the host glasses.
• ROG XREAL R1 Co-branded gaming AR glasses co-developed with ASUS Republic of Gamers, marketed as the world's first 240Hz micro-OLED FHD AR gaming glasses, weighing 91g and featuring 0.01ms response time, electrochromic dimming, ROG Control Dock compatibility (DisplayPort 1.4, HDMI 2.0), and Sound by Bose audio. Priced at $849 in the US.
• XREAL AURA Tethered Android XR spatial computing glasses co-developed with Google and Qualcomm, featuring an X1S Spatial Coprocessor in the glasses paired with a Snapdragon Reality Elite compute puck (48 TOPS AI). Runs Android XR with Gemini AI and over 100 launch apps including Google Maps, YouTube, Chrome, Photos, Amazon MGM, Resolution Games, and nDreams. Final retail price capped at US$1,500.
• XREAL Hub Companion accessory / hub hardware sold alongside XREAL AR glasses, listed on the XREAL online storefront to extend device connectivity and control functionality.
• X by XREAL xbx a01 Entry-level AR display glasses under the xbx (X by XREAL) sub-brand, positioned as a budget-friendly option priced at $299, weighing 62g with 1,600 nits peak brightness.

Quantifiable outcome

• #1 global AR glasses market share for four consecutive years (2022–2025) with 27% share per iResearch
• +6 more outcomes

Named customers8 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration22 records

AI capability8 records

Feature7 records

Partnerships

17 partnerships are on record, tiered flagship, core and minor.

• Qualcomm TechnologiesflagshipStrategic or Co-development Partner · 16 June 2026Qualcomm and XREAL collaborated on the Snapdragon Reality Elite platform, with XREAL's Project Aura / XREAL AURA as the first product partner for the chipset. The compute puck in Aura runs on Snapdragon Reality Elite with 48 TOPS AI performance.
• Best BuyflagshipChannel Partner/ Reseller/ Distributor · 16 June 2026Best Buy serves as the exclusive US retail partner for XREAL AURA and the primary pre-order and sales channel for ROG XREAL R1 in the United States. Provides physical retail presence and consumer financing.
• Amazon MGM StudioscoreGTM or Marketing Partner · 16 June 2026Content partnership for XREAL AURA, including Project Hail Mary, as part of the Android XR launch content slate; positions XREAL inside Amazon's entertainment ecosystem for premium launch titles.
• Resolution GamescoreStrategic or Co-development Partner · 16 June 2026Game developer partner building XR titles for the XREAL AURA Android XR launch, bringing established VR game studio expertise to the AURA catalog.
• Modiphius EntertainmentminorGTM or Marketing Partner · 16 June 2026Tabletop and entertainment studio partner creating XR gaming content for XREAL AURA's launch catalog.
• nDreamscoreStrategic or Co-development Partner · 16 June 2026VR game studio partner developing titles for the XREAL AURA Android XR launch, bringing established PlayStation VR and Meta Quest experience to the platform.
• apoQlarcoreStrategic or Co-development Partner · 16 June 2026Healthcare content partner building medical visualization and surgical XR applications for the XREAL AURA platform, addressing the enterprise/clinical use case for Android XR glasses.
• Frontline.iocoreStrategic or Co-development Partner · 16 June 2026Enterprise software partner building frontline worker training and procedural XR applications for XREAL AURA, supporting the industrial / field service enterprise segment.
• ShapesXRcoreStrategic or Co-development Partner · 16 June 2026Enterprise collaboration partner building spatial design and prototyping tools for XREAL AURA, addressing the creative/enterprise productivity use case.
• Snap (Snap Inc.)minorGTM or Marketing Partner · 27 May 2026Co-presented new AR glasses with XREAL at Latvian technology news segment, indicating overlapping AR glasses event participation. (Light relationship, mention only.)
• GoogleflagshipStrategic or Co-development Partner · 19 May 2026Google and XREAL co-developed Project Aura / XREAL AURA as the first tethered Android XR glasses, with Google I/O 2026 demos running on Aura hardware. The partnership spans the Android XR platform, Gemini AI integration, the Android XR Developer Catalyst Program, and Google's XR Geospatial Tour demo.
• SonycoreTechnology or Integration · 19 May 2026Sony supplies the 0.55-inch Micro-OLED display panels used in XREAL One Pro, XREAL 1S, ROG XREAL R1, and XREAL AURA — making Sony the key display technology partner across XREAL's product line.
• Fox SportsminorGTM or Marketing Partner · 15 May 2026Fox Sports XR content partnership revealed with the XREAL AURA launch lineup, building sports-viewing experiences for the Android XR platform.
• BosecoreTechnology or Integration · 15 May 2026Bose audio partnership for Sound by Bose tuning across XREAL glasses (ROG XREAL R1, XREAL 1S, XREAL One Series, XREAL AURA) with directional audio design, dedicated ENC uplink noise-cancellation algorithm, and spatial audio support.
• John LewiscoreChannel Partner/ Reseller/ Distributor · 15 May 2026John Lewis is the UK retail partner for the ROG XREAL R1 AR gaming glasses, offering them at £749 alongside XREAL's direct e-commerce in the United Kingdom.
• ASUS Republic of Gamers (ROG)flagshipStrategic or Co-development Partner · 5 January 2026Strategic partnership announced at CES 2026, co-developing the ROG XREAL R1 AR gaming glasses — the world's first 240Hz micro-OLED gaming glasses. Bundled with the ROG Xbox Ally X20 20th-anniversary handheld and integrated with the ROG Control Dock, GamePlus, GameVisual, and Armoury Crate SE software.
• Wuxi Optical Module FactoryflagshipOthers · 1 January 2020World's first dedicated AR optical module factory, established in 2020 in Wuxi, making XREAL the first AR brand with full-chain vertical integration from R&D to core manufacturing.

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• VITURE: VITURE is a direct competitor in consumer tethered AR glasses using BirdBath optics, with products like the VITURE Pro targeting the same gaming and entertainment use cases as XREAL One/One Pro. Co-leading the 96% video-centric AR glasses segment per Counterpoint, making it XREAL's closest head-to-head rival.
• RayNeo (TCL RayNeo): RayNeo is TCL's AR glasses subsidiary and the other co-leader of the video-centric AR glasses segment per Counterpoint, competing directly with XREAL across consumer and gaming SKUs. Backed by TCL's display manufacturing scale, RayNeo is XREAL's most formidable direct competitor in the tethered AR glasses category.
• Rokid: Rokid is a Chinese AI+AR glasses company offering consumer AR glasses (Rokid Glasses, Rokid Air) and enterprise AR solutions, directly competing with XREAL across both consumer entertainment and enterprise verticals. Significant overlap in BirdBath optics and on-device AI positioning.
• Vuzix Corporation: Vuzix is a long-established US-based AR glasses and smart glasses manufacturer targeting both enterprise (warehousing, healthcare, field service) and prosumer segments. Comparable in optical engine manufacturing depth and enterprise GTM motion, though with a smaller consumer footprint than XREAL.

Broad incumbents

• Meta (Ray-Ban Meta Smart Glasses): Meta's Ray-Ban Meta smart glasses lead the broader smart glasses market with #1 share in 2025, ahead of XREAL's #2 position. While not a direct AR glasses competitor today, Meta's display-equipped variants and Orion AR prototype represent the most consequential competitive threat to XREAL's category.
• Samsung Electronics: Samsung is a Google Android XR launch partner with the Galaxy XR headset, making it a platform-aligned competitor leveraging Google's software alongside its own display manufacturing and consumer brand. Represents the most credible 'platform peer' with significantly greater scale than XREAL.
• Apple (Vision Pro / future AR glasses): Apple's Vision Pro and rumored future lightweight AR glasses position Apple as the dominant incumbent threat to all AR glasses players. While Apple currently focuses on a premium MR headset, its rumored lightweight AR product would directly target XREAL's tethered AR glasses category with unmatched brand and ecosystem.

Emerging players

• Magic Leap: Magic Leap is an AR hardware company pivoting from enterprise MR headsets toward enterprise AR solutions, partially overlapping with XREAL's enterprise push via apoQlar and Frontline.io partnerships. Different form factor (MR headset vs. AR glasses) but comparable enterprise AR vertical.
• Snap Inc. (Spectacles): Snap's Spectacles are consumer AR glasses positioned for creators and AR experiences, with overlapping developer ecosystem ambitions. Snap has participated in AR glasses events with XREAL and competes for the same early-adopter consumer AR audience.

Others

• Google (Android XR / Pixel hardware): Google is simultaneously XREAL's most important platform partner (Android XR, Gemini AI) and a latent competitor through future Pixel-branded XR hardware. The dual role defines XREAL's strategic opportunity and existential platform risk in equal measure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/XREAL_Global

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds18 records

Investors26 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Xreal