The report notes that the company had originally planned to launch the first version of its AR glasses, which are codenamed Project Nazare, in 2024. However, employees have been notified that Meta no longer plans to commercially release the AR glasses due to efforts to cut back on heavy investments in its Reality Labs and AR/VR division.

A person familiar with the matter told The Information that the company plans to instead use the first version of the AR glasses as a demonstration product, as opposed to a commercial one. Meta is now planning to prioritize the release of the second version of the AR glasses, codenamed Artemis.

These changes come as Meta is dealing with slowed revenue growth, which has led the company to freeze hiring in some divisions.

Meta did not respond to TechCrunch’s request for comment.

As for the Portal, Meta is reportedly focusing on repositioning the product as a business device, rather than a consumer one. According to the report, the company will no longer release “consumer-oriented” Portal devices. The Portal has faced a bumpy road since its launch in 2018, as it never really gained a remarkable amount of traction in the smart display market. Meta’s decision to market the Portal as a business product aligns with its recent efforts to promote the device as a tool for hybrid work, as the two newest Portal devices are compatible with Zoom and Microsoft teams.

The report comes as it was recently revealed that Meta is also canceling the first version of its planned smartwatch with a camera, as first reported by Bloomberg. Meta had reportedly planned to release the smartwatch next year.