Analyst: M5 Vision Pro, Vision Air, and smart glasses coming in 2026–2028

Despite the Vision Pro's limited market penetration, analyst Ming-Chi Kuo's roadmap indicates Apple's continued long-term commitment to mixed reality, with new head-mounted devices planned for 2027 and 2028. Future models, including a Vision Pro 2 by mid-2028, are projected to feature a lighter design, lower price, and a performance upgrade to the M5 chip, while a minor M5 chip refresh of the current Vision Pro may enter production in Q3 2025. This strategy underscores Apple's view of head-mounted devices as the next major consumer electronics trend.

Analysis

Based on insights from a historically accurate analyst, Apple Inc. is pursuing a long-term strategy for its mixed reality platform despite the Vision Pro's current niche market position. The product roadmap indicates a strategic pause, with no new head-mounted devices expected in 2026, followed by a new wave of products commencing in 2027. This timeline suggests that Apple remains committed to its view of head-mounted devices as the next major consumer electronics trend, undeterred by initial low sales volumes. A potential interim refresh, dubbed a 'Vision Pro 1.5' with an M5 chip upgrade, could enter production in Q3 2025, but a full successor is not anticipated until mid-2028. This future Vision Pro 2 is projected to address key criticisms of the original by being 'significantly' lighter with a lower price point, and featuring a substantial performance leap from the M2 to the M5 system-on-a-chip. This multi-year plan signals that any material financial contribution from this segment is a long-term prospect, positioning it as a strategic R&D initiative rather than a near-term growth driver.

Key Decisions for Investors

• Given the projected 2027-2028 timeline for new models, investors should not expect the Vision product line to materially impact Apple's revenue or earnings for at least the next three years.
• Apple's sustained investment in this category, despite modest initial sales, reinforces the long-term innovation thesis, suggesting that investors should view this as a strategic R&D initiative rather than a near-term commercial failure.
• Monitor supply chain reports around Q3 2025 for confirmation of a refreshed model entering production, as this would be the first tangible catalyst validating the updated product roadmap.
• The planned specifications for a future model—specifically a lighter design and lower price—directly address current market barriers, but its potential contribution to growth remains a high-risk, long-duration consideration for valuation models.