The debut of Apple’s virtual reality glasses marks a turning point for the industry, executives from some of the big players in augmented and virtual reality have said, welcoming competition from the American tech giant.

Apple has unveiled its Vision Pro glasses, ending months of rumors that the giant was preparing to release its own virtual reality product.

The glasses will allow users to see applications in the space around them in a new way (i.e. imagine what your mobile phone screen is showing in the air). Users can use their eyes and hands to navigate apps and search by voice for what they want to find.

Using the headset, users can watch movies, including 3D surround sound, view their own photos or videos, and play video games. They can also work with video conferencing applications. The glasses will be available starting at $3,499 early next year, but their high price tag won’t go unnoticed on social media. The VR industry has long struggled to be taken seriously as consumers see these devices primarily as being used for gaming rather than something that can be integrated into their daily lives.

Meta, formerly known as Facebook, has staked its entire future on the idea that people will immerse themselves in virtual worlds through VR products such as the Meta Quest line of headsets and the Horizon Worlds VR social game, in a network of vast virtual worlds known as ” the metaverse.”

But Meta has not yet found the broad commercial appeal of its product and is losing billions of dollars every year on its investment in technology.

Sales of VR goggles have been declining lately, especially as consumers grapple with the soaring cost of living. Research group NPD Group told CNBC last December that U.S. VR headset sales would fall 2% year-over-year in 2022, to $1.1 billion.

But industry leaders say Apple’s product launch marks a major milestone for the emerging market for mixed reality (combining the real user environment with digital content). “Apple’s entry into mixed reality with Vision Pro is a big moment for our entire industry,” said Urho Konttori, CTO of Finnish VR headset manufacturer Varjo.

“We hope that today is a tipping point for consumers and that it will become part of their daily lives with promising applications for entertainment, personal productivity and communication,” he added.