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Snap CEO Deflects Specs Pre-Order Questions on Q2 Earnings Call
Evan Spiegel avoided giving preorder numbers for Snap's $2,195 Specs smart glasses during the Q2 earnings call, saying consumers need hands-on experience before mass adoption, which he expects only near the end of the decade.
Snap CEO Evan Spiegel on Monday sidestepped analysts' questions about preorder demand for Specs, the company's augmented-reality smart glasses, during the second-quarter earnings call. The device is scheduled to launch at a company event in September.
Spiegel said he believes most consumers will not adopt the product until near the end of the decade. He described the $2,195 device as a "high consideration purchase" and noted that while developers and early platform users recognize the technical advances in this generation, the broader public will need to go hands-on before buying.
Snap unveiled Specs in June after more than a decade of development. Its price is significantly higher than Meta's Ray-Ban smart glasses, which start at around $350, but lower than Apple's Vision Pro, which starts at $3,500.
Investors also pressed Spiegel on why Snap is pursuing the product alone rather than partnering with another company, and how it plans to compete with Apple, Meta, and Alphabet. He responded that the company sees an "enormous" long-term opportunity in building the next computing platform.