Pico and TikTok owner ByteDance first mentioned the existence of its next headset during a presentation in November 2025, revealing some key specifications. The company then publicly teased the device back in March, calling it 'Project Swan'.

Pico said the headset will have micro-OLED panels with 4000 pixels per inch (PPI), a dual-chip architecture with a self-developed coprocessor for computer vision and image processing, and a new main processor that will have twice the CPU and GPU performance of the Snapdragon XR2 Gen 2 in today's Pico 4 Ultra and Meta Quest 3 headsets. It also detailed many of the visionOS-like features of Pico OS 6 and the RealityKit-like Pico Spatial Engine.