computer-science
After unveiling ridiculously expensive AR glasses, Snap’s stock takes a dive
Key takeaways
- Snap s long-awaited AR glasses, Specs, didn t have the best debut.
- The big concern surrounding Snap s new smart glasses — which the company has been working on for over a decade — is the cost: the company maintains they will retail at nearly $2,200 apiece.
- It s worthy of note that Snap s core user demographic — teenagers — are not typically equipped with that kind of pocket change, leading onlookers to question the profitability path for the new product.
Snap s long-awaited AR glasses, Specs, didn t have the best debut.
The company s stock hasn t been on the healthiest trajectory lately. It s dropped 30 percent over the past year. Following Specs launch, it sank more than 5 percent — falling from $5.86 a share on Tuesday to a low of $4.83 on Wednesday morning. As of this writing, the stock still hasn t recovered the position it held prior to the announcement.
The big concern surrounding Snap s new smart glasses — which the company has been working on for over a decade — is the cost: the company maintains they will retail at nearly $2,200 apiece.
Article preview — originally published by TechCrunch. Full story at the source.
Read full story on TechCrunch →
More top stories
Also covered by
Aggregated and edited by the Scoop newsroom. We surface news from TechCrunch alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop