Snapchat loses US$40million on unwanted Spectacles

Snapchat’s video-recording sunglasses, Spectacles, launched in September 2016, failed to sell as well as hoped, causing the social media company to lose out on US$40million.

The glasses record a short video that can be shared on Snapchat by pressing a button.

The company recently revealed that they had a lot of canceled orders.

Critics said the picture quality of recorded videos was poor, and the glasses were too expensive – costing a “steep” US$129.

Stuart Miles from technology news website Pocket-lint said to the BBC: “They were a fun gimmick for some people, but not compelling enough for a lot of people to get involved.

“Snap is a social media company that is experimenting with merchandise and hardware. They’re new to manufacturing, and they must have got their projections wrong.

“It never caught on in the way they were hoping.”

Written by Leah Alger