Key facts
- Snap CEO Evan Spiegel did not provide preorder figures for the upcoming Specs smart glasses.
- The Specs smart glasses are priced at $2,195.
- Spiegel believes consumers need hands-on experience with the device.
- He stated that mass-market adoption is expected by the end of the decade.
- Snap views the development of the next computing platform as an enormous opportunity.
Snap CEO Evan Spiegel sidestepped investor inquiries regarding preorder demand for the company's forthcoming Specs smart glasses during the second-quarter earnings call. The device, set to launch in September, carries a $2,195 price tag, positioning it as a premium offering compared to competitors like Meta's Ray-Ban smart glasses and Apple's Vision Pro.
During the call, Spiegel emphasized that potential customers need to experience the Specs firsthand to appreciate the technological advancements. He suggested that the upcoming launch event would serve as a crucial starting point for engaging consumers with the product. Investors also raised questions about the financial viability of Snap's strategy, its decision to develop the technology independently, and its competitive stance against major players like Apple, Meta, and Alphabet.
Spiegel articulated his belief that the long-term opportunity in developing the next computing platform is substantial. He highlighted Snap's position as a first mover in this specific product category, contrasting it with its earlier role as a late entrant in the social media space. He acknowledged that significant improvements in weight and cost are necessary for widespread consumer adoption, which he anticipates may not occur until the end of the decade. However, he noted that developers have been building on the Specs platform for several years, providing Snap with a distinct advantage.