Snap's Latest Venture into Smart Eyewear
Snap Inc., the company behind the popular Snapchat app, has announced the release of new augmented reality (AR) smart glasses named 'Specs.' This launch comes a decade after its initial foray into smart eyewear resulted in significant financial losses. The 'Specs' glasses are designed to overlay digital content onto the real world, offering users an interactive experience.
Pricing and Market Positioning
The new smart glasses will be available for £1,995 in the UK and $2,195 in the US, with shipping expected to commence this autumn. This pricing positions them below Apple's Vision Pro mixed-reality headset, which starts at $3,499, but considerably higher than Meta's smart glasses, which begin at $224.
Evan Spiegel, co-founder and CEO of Snap Inc., described the glasses as the "beginning of a new era in computing." However, market analyst Ben Hatton of FDM CCS Insight suggested that the price point makes the technology "unlikely to become a mainstream device any time soon," especially given that Snap's primary demographic of younger consumers typically lacks the disposable income for such a high-priced gadget.
Features and Design
A refundable deposit of $200 is required for pre-orders, with shipments planned for the US, UK, and France. Snap states the glasses are intended for "everyday life," despite having an average battery life of four hours, which can be extended to 20 hours with a charging case.
Unlike some competitors, 'Specs' operate independently without needing a smartphone connection, and they do not require an external battery pack, differentiating them from Apple Vision Pro's design. While this enhances "wearability and mobility," Hatton noted it comes "at the cost of lower battery output." He further commented that a four-hour battery life and a somewhat bulky design mean the glasses are not poised to replace smartphones in the near future.
Users will be able to utilize an AI assistant for tasks like navigation and object queries, in addition to watching videos, browsing the web, playing AR games, and recording their surroundings through the lenses.
Privacy Concerns and Company Response
Smart glasses have previously faced criticism regarding privacy, particularly concerning instances of non-consensual public filming. In response to these concerns, Spiegel emphasized that "privacy has to be built in from the very beginning" and that "Specs only work if people trust them." The device includes a light that illuminates when recording, and Snap asserts that users will have control over their data—what is stored, synced, shared, or deleted.
Following the announcement at the Augmented World Expo conference in California, Snap Inc. shares experienced a decline of approximately 9%.
Snap's History in Smart Eyewear
This is not Snap's first foray into smart glasses. In 2016, the company launched 'Spectacles,' camera-equipped sunglasses priced at £129, capable of recording short video clips. By 2017, Snap reported $40 million (£30 million at the time) in losses due to "excess inventory" and canceled orders for the product. Subsequent versions of Spectacles were released in 2018 and 2019 with higher price tags and improved camera resolution. After these iterations, Snap shifted its focus towards AR, offering new Spectacles in 2021 exclusively to a "select group of global creators."
Source: Snap unveils £1,995 smart glasses after previous flops