Intel planning to sell majority stake in AR business

Intel is seeking investors for a majority stake in its consumer-facing augmented reality business, which plans to start selling Bluetooth-connected "smart glasses" as soon as this year, reports Bloomberg.

Why it matters: Intel reportedly values its AR business at as much as $350 million, while Goldman Sachs estimates the overall market for AR and VR hardware could reach a high of $110 billion by 2025. Having struggled to find success in the consumer products space, the chipmaker is said to be prioritizing investors with industry expertise over those with significant financial resources.