Snap Inc (NYSE:SNAP) shares fell about 4% following the company’s unveiling of its new augmented reality (AR) glasses, Specs, as investors weighed the high price tag and uncertain consumer demand against the company’s long-term vision for wearable computing.
The company introduced Specs at the Augmented World Expo in California, positioning the device as its first consumer-facing standalone AR glasses. The product is available for pre-order at $2,195, plus a $200 refundable deposit, with shipments expected later this year in the United States, United Kingdom, and France.
Snap described Specs as a wearable computer built into see-through AR glasses designed to bring AI assistance, entertainment, communication tools and spatial computing into everyday environments.
Evan Spiegel, Snap CEO, said the device represents “the beginning of a new era in computing,” arguing that it moves computing from handheld devices into the physical world.
“For decades, computers have asked us to look down, sit still, or step out of the moment,” he said. “SPECS bring computing into the world around us where we live, work, learn, create, and connect.”
Specs include features such as a mixed-use battery life of up to four hours, a charging case providing additional charges, and developer tools aimed at expanding the ecosystem of applications for the device.
Snap also highlighted ongoing investments in AR infrastructure, including its Lens Studio platform and custom operating system work.