Snap Inc. (NYSE:SNAP), the owner of Snapchat, has released its video-recording Spectacles sunglasses in the UK and Europe, in the social media company’s first foray into dedicated hardware.
The glasses, which allow users to record 10-second video clips and upload them onto their Snapchat accounts, will be sold in vending machines for £129.99.
Vending machines will be placed at the London Eye and various locations in Paris, Berlin, Barcelona and Venice. The glasses will also be available at Spectacles.com for shipping.
Spectacles were first released in the US in September 2016 when hundreds of people had queued throughout winter to buy the gadgets.
The release of the gadget comes as Snap expands its business beyond its popular picture messaging mobile app. The group has changed its name from Snapchat to Snap Inc., as it considers itself as a camera company instead of a mobile app developer.
Snap's struggles...
Snap started its first day of trading in early March when its shares surged 44% to about US$24 each.
Shares are now worth US$21.34, prompting run-ins with investors over whether it should stick to being a social media app and pull out of plans to become a media technology company.
Adding to its woes, Snap reported a disappointing first quarter earnings report in May with a US$2.2bn loss.
Snapchat chief executive Evan Spiegel has described its release of Spectacles as an experiment. “It’s about us figuring out if it fits into people’s lives and seeing how they like it," he said.
The glasses capture video in a wide-angled, circular formal, and are designed to mimic the field of vision of the human eye. Spectacles connect to Snapchat on mobile phones via Bluetooth or wifi, displaying videos in a full-screen format. Users can rotate their phone to change what they see.
Tech giants compete for market share...
The move comes as technology companies engage in a battle to release the latest and greatest.
Google recently released its Lens product, a technology that turns your camera into a search engine, providing information about any item you point it at. Google also changed its name to Alphabet as it branched outside of its search engine to release new tech products.
Facebook Inc. (NASDAQ:FB) has launched an augmented reality camera effects developer platform. The first effects will be available inside Facebook’s camera feature on smartphones but is designed to evenutally be compatible with future augmented reality hardware, such glasses.
Apple Inc. (NASDAQ:APPL) has been differentiating its product offering following sluggish iPhone sales with plans to release its own smart glasses and a smart speaker to rival Amazon Echo and Google Home.