Snap is reportedly set to release a new version of Spectacles with an aluminum design that packs in two cameras. Through the Snapchat app, you may be able to add augmented reality overlay effects in videos you capture with the updated Spectacles. The $350 frames will cost more than double the first version, which arrived in 2016, and will be on sale by the end of the year, according to Cheddar.
Following a $40 million write-down on the first version after Snap overestimated demand (it ordered around 800,000 pairs), it has been more conservative with orders of the device. For the second version of Spectacles, which were released earlier this year, Snap reportedly ordered 35,000 pairs, and 52,000 of a tweaked set it released in September. This time around, it’s hedging its bets further by ordering around 24,000, according to the report.
Snap is set to release its latest Spectacles after watching its stock price plummet 50 percent this year, and in the wake of a damaging report about how CEO Evan Speigel was “dismissive” to board members and spends much of his time during board meetings using Snapchat on his phone. The latest report indicates that Snap is willing to lose money on the Spectacles side of the business for now, with the hope of breaking even in 2020. Snap, meanwhile, is facing an investigation over allegations it misled investors over user metrics.
