To boost demand, Meta has also cut back its margins and priced the device closer to an iPhone, Bloomberg's Mark Gurman reports.

Meta will announce a pair of AR glasses next month, called Meta Celeste, and they may well be significantly more affordable than was previously thought.

September is gearing up to be one of the most exciting months of the year for new technology launches, with Meta reportedly set to unveil its next-generation smart glasses. Codenamed Hypernova, according to Bloomberg, the glasses are set to start around $800 for the basic model -- that's at least $200 less than previously thought.