Snap Inc. unveiled its new augmented-reality glasses called "Specs," priced at $2,195, positioning them as a potential smartphone replacement. The glasses offer about four hours of battery life and run apps through an augmented overlay designed to integrate seamlessly into daily life. Available for pre-order with shipments expected this fall in the US, UK, and France, Specs aim to provide practical AR uses like navigation and AI assistance. Despite the hype and celebrity endorsements, Snap's shares dropped over 4%, reflecting market skepticism amid a competitive and slow-growing AR wearable market. The launch comes as Snap faces financial challenges, including significant job cuts and a stock price decline this year.
