Alibaba (BABA) Unveils AI Smart Glasses, Enters Race With Meta and Xiaomi
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The glasses are designed to deliver real-time voice and visual features. Key functions include hands-free calling, music streaming, language translation, and meeting transcription. A built-in camera enables imaging and search. Users will also be able to access Alibaba Group's services, including navigation via Amap, payments through Alipay, and price comparisons on Taobao.
On the stock performance front, BABA shares are 43% year-to-date.
Alibaba Group Enters Smart Glasses Market Led by Meta Platforms
The Quark AI Glasses are targeted at consumers in China and are part of a broader push by Alibaba Group to expand into hardware. Quark, currently available as a mobile app, will now be embedded in a wearable device for a wider reach. The device is expected to appeal to professionals, travelers, and tech-forward consumers.
The launch puts Alibaba Group in direct competition with Meta Platforms (META), which leads the smart glasses category through its partnership with Ray-Ban. It also enters the space alongside Chinese electronics firm Xiaomi Corp (XIACF), which released its own AI glasses earlier in the year.
The global smart glasses market was valued at around $1.93 billion in 2024 and is projected to reach $2.47 billion by 2025. Research projects a compound annual growth rate of roughly 27% through 2030. North America holds about 35% of global revenue, with the United States market valued at $1.44 billion in 2024.
China does not have a specific share listed, but is expected to grow fast due to competition from Alibaba, Xiaomi Corp, and Baidu (BIDU). Meta Platforms currently holds around 60% of the global market share. Industry data shows smart glasses shipments rose 210% year-over-year in 2024.
What Is the Price Target for BABA Stock?
On the Street, Alibaba boasts a Strong Buy consensus, with an average BABA stock price target of $151.08. This implies a 25.87% upside.
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