Investing.com -- Meta Platforms Inc (NASDAQ: META ). is stepping up the development of a deluxe version of its popular smart glasses, intending to incorporate hand-gesture controls and a screen for displaying photos and apps. The company aims to launch its first glasses with a screen as early as the end of this year, according to a report from Bloomberg, citing sources familiar with the matter.

The upgraded device, code-named Hypernova, is expected to be priced at over $1,000 and could reach as high as $1,300 to $1,400, the sources said. The final price will likely be determined closer to the product announcement.

Meta’s current smart glasses, the Ray-Ban Meta Glasses, which are priced at $299, have seen unexpected success. The company plans to continue selling this entry-level version, hoping its popularity will drive users towards the more expensive models.

The significant price increase for the new model is primarily due to the inclusion of a screen, which is a monocular panel positioned in the lower-right quadrant of the right lens. This means information will be displayed only in front of the wearer’s right eye and will appear most clearly when they are looking downward.

Meta has already started developing a second-generation version of the product, codenamed Hypernova 2. The major difference in this version is the inclusion of a binocular display system, meaning the device will have two screens and display information in both eyes. This device is currently planned for 2027, according to the sources.

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