Snap chief dodged questions about Specs smart glasses sales

According to Ixbt.com, Snap CEO Evan Spiegel avoided giving a clear answer to questions about initial demand and preorders for the long-awaited new Specs smart glasses at a meeting with investors devoted to the second-quarter results. This sparked interest and debate in the technology market ahead of the official presentation event in September, as the new device is considered a strategically important step for the company’s future. Techcrunch.com reports this.

During the meeting, Spiegel emphasized that customers and users want to try the device in person. According to him, the price of 2195 US dollars means that it is a decision buyers will consider very carefully. Developers and specialists familiar with the platform’s capabilities may have a good understanding of its technological advances, but for mass-market consumers, being able to see, hold and try the device in person is extremely important.

Pricing strategy and market competition

This comparison highlights that Specs is more expensive than other popular wearables on the market. In particular, Meta Ray-Ban smart glasses start at around 350 dollars, making Snap’s product considerably more expensive. At the same time, it was noted that the device is cheaper than Apple’s Vision Pro headset, which starts at 3500 dollars. Announced by the company in June after more than a decade of development, the device is trying to find its place in the market.

Investors asked Spiegel why this particular financial strategy had been chosen, why Snap was operating independently instead of joining forces with other major partners, and what would enable it to succeed in competition with giants such as Apple, Meta and Alphabet. In response, Spiegel said that the opportunity to create the computing platform of the future was enormous and that Snap would rely on its own capabilities in this area.

First-mover advantage and future plans

According to Spiegel, some people may not yet fully understand how technically complex the Specs device is. When the company began introducing innovations in social media, it was a late entrant, following established apps such as Facebook, Instagram and Twitter. However, he emphasized that with this new category of device, Snap is a first mover, allowing it to demonstrate its strengths as an innovator.

Answering a question about the product’s market adoption, Spiegel suggested that broad acceptance among mass-market consumers might not come until the latter years of the decade. He added that the device’s weight and price would need to decrease in the future for sales volumes to increase significantly. Nevertheless, the fact that developers have been creating apps for the Specs platform in recent years gives the company an important advantage.