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Oculus CEO on Magic Leap: “Nobody’s really seen the technology yet.”

Last month a new company by the name of Magic Leap turned heads by raising some $542 million USD in a round of financing for its unrevealed technology that it claims will ‘transcend’ virtual reality (VR). Investors included the likes of Google, Qualcomm and Legendary Entertainment, raising some suggestions that the technology, whatever it may be, might compete with the upcoming Oculus Rift head-mounted display (HMD). According to Oculus VR CEO Brendan Iribe the company doesn’t see Magic Leap as a competitor, at least not based on what’s been shared about it so far.

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Iribe said as much in an interview with CNN Money. “Well they’re raging about the amount of funding that they got,” he said of the response to the recent funding news. “Nobody has really seen the technology yet. So it’s still anybody’s bet on who’s going to come out with a competitive product. We don’t’ view other folks like Magic Leap – from what we’ve heard – we don’t view them directly competitive. A number of people are focussing on augmented reality, AR, or what we like to call NR, notification reality with Google glass where it’s just little notifications up in the corner of your eye.

“AR is see-through glasses,” Iribe concluded, “we’re virtual reality where we really take over your whole field of view, you’re entire vision, and we give you a new virtual vision. These are each different product categories, so there’ll be leaders in each space and we really are confident that we’ll be the leader in the VR space, especially on PC and mobile.”

Oculus VR faces a lot of questions of competition in the build up to the release of the consumer version of the Oculus Rift. In particular it’s the Project Morpheus PlayStation 4 HMD that many see as a competitor, though the company insists that the different platforms and the need to develop strong VR technology at this early stage keep the two from rivalry.

As for Magic Leap, it’s not yet clear when the technology will be fully revealed. VRFocus will continue to follow any and all updates from the company, reporting back with all the latest.