While Snap, Inc. is largely known for their incredibly popular app, Snapchat, they’re also developing a new version of their Spectacles hardware that can bring two cameras to a pair of sunglasses.
A recent report from the live news show Cheddar has caused quite the buzz online as it was revealed that the developers behind Snapchat are working on a revamp to their Spectacles sunglasses.
These Snapchat Spectacles originally released back in 2016, and while they were originally flying off the shelves and difficult to get your hands on due to scarcity, it turned out that the spectacles failed to impress with a lackluster retail launch. The price of the Snapchat spectacles was a little expensive as well, coming in at around $130 for a pair of sunglasses equipped with a camera.
Philip Carret was an investor and founder of Pioneer Fund, one of the first mutual funds in the United States. Carret ran the mutual fund for 55 years, during which time an investment of $10,000 became $8 million. That suggests he achieved a compound annual return of nearly 13% for his investors. Q1 2021 hedge Read More
The Snapchat Spectacles are equipped with a camera where the arm meets the front of the frame, and allows people to take circular video in order to create clips on Snapchat. While it may be a unique and useful piece of tech for the serious Snapchat enthusiasts, the original launch wasn’t nearly as successful as the Snap, Inc. was hoping, bringing into question why they’re working on a revamp for the Spectacles that may release in the near future.
However, despite the lackluster sales of the original Spectacles, Snapchat did generate a lot of buzz regarding their app as a trailblazer in the social media scene. That sort of publicity is difficult to buy, and as the company struggles to adequately monetize their app in a way that can compete with the likes of Facebook and Instagram, it’s understandable that they’re looking for some other way to get people talking about this already extremely popular app.
Snap, Inc. has also made a pretty big deal about being a camera company rather than just a social media hotshot, so giving up their efforts after one failed Spectacles attempt is probably not in their best interest. Whether the world is ready for a wearable pair of camera glasses is still unclear, but what is clear is the fact that the company has a large following for their app – and many may be looking for an easier way to document their life and share it with followers. It’s a recipe for success, but the industry for wearable technology hasn’t taken off in the way many companies have hoped.
While the Snapchat Spectacles are simply glasses with a camera built in, there are rumors that this new entry from the company may be a little more high-tech than it was before – at least according to Cheddar. We may see new colors, water resistance, and performance improvements. But perhaps the biggest change coming with the new Snapchat Spectacles – expected to launch next year – are design changes, with a new aluminum frame and 3D-depth effects due to a second lens. The dual-lens setup may make the Spectacles a more legitimate camera rather than a neat novelty, and could capture the attention of social media influencers that want to share their lives from their point of view. Also rumored is the inclusion of GPS for geotagging as well as a premium leather case to carry your new Spectacles around in.
There may be a base model with fewer features, but the premium inclusions we mentioned above may set customers back around $300. This is a pretty hefty price increase for Snapchat Spectacles that had already struggled to sell in the first generation, but Snap certainly has an incentive to innovate in the industry and provide something new to social media that we haven’t yet seen.
At the end of the last generation of Snapchat Spectacles, there were some significant issues for their hardware division. Due to the lower than average sales, there were layoffs and shake-ups in management. Moving forward, Snap seems determined to correct the setbacks of the preceding technology with a brand new pair of Spectacles. It remains to be seen, however, whether the market actually wants what the company has to offer. Snapchat has certainly established itself as one of the top social media networks – especially for the younger population – but the release of the new Snapchat Spectacles may give us a better sense of whether the company has the chops to compete in the hardware arena as well.