TikTok New Vision Pro App

Market Overview
Read time 1.6 minutes

Year To Date Performances:

1. TikTok has unveiled a new app tailored for the Apple Vision Pro, enhancing the immersive experience for users on one of the latest and most innovative platforms. Launched on February 2, the Vision Pro now hosts over 1,000 apps specifically crafted for its unique capabilities, with TikTok being among the latest additions. Unlike viewing TikTok videos through a browser on the Vision Pro, the native app offers a more engaging viewing experience by relocating the navigation bar and like button off-screen for uninterrupted full-video viewing. The app also allows users to explore comments and creator profiles without obscuring the video, a significant departure from the mobile app's interface. This reimagined app capitalizes on the Vision Pro's ability to transcend traditional screen size and spatial limitations, offering features like immersive locations for video viewing and compatibility with the device’s Shared Space feature. TikTok's adaptation, including design adjustments such as moving the navigation bar to the left to align with Apple's design best practices, signifies its commitment to leveraging the Vision Pro's potential for a unique content consumption experience. This move positions TikTok competitively in the spatial app domain, especially against other video streaming services that are also entering the Vision Pro ecosystem.

2. Lucid Motors has announced significant price reductions across its range of electric sedans in a bid to stimulate demand following a challenging sales year. The base model Lucid Air Pure, now priced at $69,900, saw a reduction from its previous $77,400 tag, while the more powerful Lucid Air Touring model's price dropped to $77,900 from $85,900. The Lucid Air Grand Touring, known for its 500+ miles range, also received a price cut to $109,900 from $110,900. In addition to the price cuts, Lucid is offering a $1,000 credit towards a home charging solution and free scheduled maintenance for two years or up to 24,000 miles with new purchases. These adjustments follow Lucid's announcement of delivering only 6,001 cars in 2023 and come ahead of its upcoming disclosure of financial results. Despite previous price adjustments last year to compete with Tesla and other manufacturers, Lucid's vehicles are not eligible for the $7,500 federal EV tax credit for purchases, though they do qualify for the same amount in leasing credit. CEO Peter Rawlinson has acknowledged the company's marketing challenges, noting the low public awareness of both the car and the company. With the introduction of the Air Pure model last year and an electric SUV on the horizon, Lucid aims to broaden its appeal amidst plans to expand its presence in Saudi Arabia, its major financial supporter promising to purchase up to 100,000 Lucid EVs over the next decade.

3. Visa and Mastercard agree to historic $5 Billion Settlement! In a groundbreaking move for the payment history, Visa and Mastercard have come to a historic $5 billion settlement, marking a pivotal moment for small business owners. If you are a small business owner, claim your share today!*

4. Headlines

   1. SpaceX has relocated from Delaware to Texas.

   2. Berkshire Hathaway is decreasing its stake in Apple.

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