The new product would offer both virtual and augmented reality experiences and remove the internal battery, instead requiring an external battery to connect via a cable.

The headset is rumored to have a price tag of about $3,000 and is expected to hit the shelves later in the year.

The conference will be streamed live on Apple's website and YouTube channel, and Tim Cook is also expected to speak about Apple's artificial intelligence strategy.

Additionally, Apple is rumored to be introducing a 15-inch MacBook Air laptop and updates to its iOS, iPadOS, and macOS operating systems.

A mental-health journaling iPhone app is also expected to be launched at the event.

The headset market saw a 54% drop in global sales last year, and Meta has invested heavily in mixed reality, hoping to make headsets the next big thing.