Facebook has a deal set in place to purchase with Oculus VR Inc., a maker of virtual-reality glasses for gaming, for $2 billion, according to Reuters.
The news marks Facebook's first-ever hardware deal, as the company has essentially purchased its way into the growing wearable devices arena.
The purchase comes just weeks after the social media company reached a deal with WhatsApp for approximately $19 billion. The company believes most of its users are switching from PCs to smartphones, and is doing all it can to provide relevant products.
"The history of our industry is that every 10 or 15 years there's a new major computing platform, whether it's the PC, the Web or now mobile," said Facebook co-founder and Chief Executive Mark Zuckerberg in a conference call with analysts this week, according to Reuters.
Facebook, which is the largest social network in the world, was deemed by most analysts as being late to "recognize the shift to mobile devices" and the company's revenue has only just started to recover from its late start, according to Reuters.
A number of industry experts feel that wearable devices are the next big platform shift.
Google has been testing its Google Glass for a while now, and last week it introduced an effort to produce computerized watches.
"We're making a long-term bet that immersive, virtual and augmented reality will become a part of people's daily life," Zuckerberg said.
The Facebook-founder added that wearing the Oculus goggles was "different than anything I've ever experienced in my life."
Facebook is reportedly not interested in becoming a hardware company and does not plan on trying to make a profit from sales of the devices.
"Imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face - just by putting on goggles in your home," he said.
Zuckerberg added that Oculus will operate as an independent company.
Shares of Facebook were down around 1 percent at $64.36 in late trading on March 25.
"The question this time is whether Facebook is too early or simply betting on the wrong platform. This won't be known for some time. But if it gets the platform right, we're relatively confident that Facebook will develop an effective monetization strategy for it, thus boosting its overall financial growth," RBC Capital Markets analyst Mark Mahaney wrote in a note to investors, according to Reuters.
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