Snap’s Eye-catching Wearable Tech
Snap’s turning sci-fi movie fantasies into reality with a pair of shades that let us roam the world with the matrix in front of our eyes. The social media player isn’t giving up on its dream to sell us sunglasses, foraying into wearable tech with a product that’s sparked investors’ curiosity!
Snap hopes this is third time lucky for its ‘Spectacles’ line! The company first launched itself into the eyewear market with the original ‘Spectacles’ back in 2017. In hindsight, the initial success was a flash in the pan. Adding to a certain mystique, these specs could only be purchased from vending machines. Many ended up being spun off on eBay for quadruple their retail prices, given the booming early demand. However, no sooner was the summer craze over than it had begun. Snap’s stock wasn’t left with much to show for the project after investors realized there weren’t long-term profits to be had. It’s all about the money!
A second roll-out of the sunglasses also failed to gain traction, but Snap is insisting to the market that Spectacles 1 and 2 were only rehearsals. Spectacles 3 have arrived, retaining features for taking pictures and sending them to Snapchat, but also getting 3D special effects and a redesign. Not gonna lie, they look pretty dope!
As the company only makes a small number of the limited edition shades, some investors think it’s insuring against an embarrassing release flop at scale. Others think the company is deliberately playing on the fringes right now, so it can dabble in the wearable technology market with less risk. Hardware is to software what yin is to yang, offering a chance for companies like Snap to diversify. All the big hitters are dipping in, from Apple to Amazon, so investors will be keen to see what Spectacles 3 look like in the mirror!