Snap Inc. has thousands of pairs of unsold Snapchat Spectacles
Snap Inc.’s pop-up Spectacle vending machines may have been a success, but it sounds like Snapchat Spectacles themselves were a dud when it came to wider distribution. Two sources close to the company are reporting that the company has ‘hundreds of thousands’ of pairs of unsold Spectacles sitting in warehouses that are fully assembled, while others are in parts.
This report undermines that of Snap CEO Evan Spiegel, who reported that Snapchat Spectacle sales were over 150,000 and were more than the company expected. The Spectacles have been available to purchase online for a while now and yes, you can even buy them on Amazon.
Snapchat is struggling after its recent IPO as the company fails to meet expectations for advertising growth. In fact, the stock is now trading well below the IPO price from earlier this year. Snap Inc. hoped to set itself apart from Facebook’s Instagram and its cloning of features by offering the hardware spectacles for die-hard fans, but that plan seems to have backfired.
[via The Information]