Snap stock rallies 4%; company working on new Spectacles, says Cheddar

04 March, 2018, 05:01 | Author: Sergio Cook
  • James Martin  CNET

Snap, Inc. isn't giving up on its camera-equipped Spectacles glasses just yet.

The second-generation of Spectacles is said to be in an advanced manufacturing process and would be ready for a Q2 or a Q3 launch.

Most were under the impression that Snap had moved on but that apparently isn't the case.

Official confirmation on the new versions of Spectacles is yet to be confirmed by the spokesperson of the company who has completely denied on commenting on the same.

However, consumers largely shunned the sunglasses, which offer the ability to record short clips and post them to Snapchat, once there were made more widely available in early 2017.

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The main point of the report is that Snap will have another go (or two) at making the product. It could feature 3D depth effects and a built-in Global Positioning System module as well.

Additionally, the giant is reportedly working on the third edition of the Spectacles as well. The addition of Global Positioning System is also possible. Of course, they will increase the price per specs upto $300 from $130 of its first generation which is more than double the price.

Although Snapchat has faced some loss, but the company is still working on its new spectacles.

It could also license the technology to eyewear makers like Luxottica and Warby Parker, the news site reports. They seemed popular at first, but then, something happened. That's a little surprising considering the first batch of social media glasses only sold around 150,000 units, leaving the company with a lot of stock on its hands. We would let you update on the same!

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