According to a report, Snapchat is said to be
planning on releasing a new version of its Spectacles glasses with two cameras
and a higher price point of US$ 350 by the end of the year. The new Spectacles is
internally codenamed Newport and will feature an all-new design with a more
premium frame made of aluminum and cameras capable of producing augmented
reality effects in videos.
The US$ 350 price tag is more than double the cost of
the first iteration of Spectacles, which were released in 2016. By utilizing
two cameras, the Snapchat app will be able to overlay AR lenses and create
3D-like photo effects from footage taken by the Spectacles. The new hardware is
in-line with CEO Evan Spiegel’s grand vision of eventually creating eyewear
technology that seamlessly overlays virtual objects onto the real world.
Despite the setbacks with the Spectacles, CEO
Spiegel is planning to develop future iterations of Spectacles for years to
come. Snap recently created a plan to invest money on its hardware efforts
until reaching break-even in 2020. And last month, the company’s “Snap Lab”
hardware group hired the former president and COO of ICON Aircraft, Steen
Strand, to be director of product design.
To better manage its inventory of Spectacles, Snap
significantly reduced the number of pairs it ordered for its second version of
the glasses. According to internal shipment numbers, Snap ordered roughly
35,000 pairs of its second Spectacles and an additional 52,000 of a slightly
modified model released in September 2018. For the third model, the company
planned roughly 24,000 pairs.
Snap continues its push into hardware as it has
struggled to meet Wall Street’s growth expectations. Regardless of the
struggles facing Snap’s core ad business, Spiegel has maintained that building
hardware is an important part of his company’s long-term strategy.
