Last year Snap inc. launched Snap Spectacles. The P3 shaped sunglasses featured a camera on the tip of one of the temples and a ring of LED lights on the other to take photos and upload them to Snapchat. Snap purposely kept inventory low to spur demand and for the first few months, that plan seemed to generate a lot of interest from consumers. However, soon enough Snap was stuck with hundreds of thousands of unsold Spectacles, that are today collecting dust in some warehouse somewhere, sparking a $40 million loss. Snap did sell 150,000 before pulling the plug.
With all the augmented reality Snap and other social media networks have made commonplace over the past year, Snap announced they are working on a new version of the Spectacles that will reportedly feature stereo cameras for more 3D-like depth effects and a built-in GPS. It is reported the new Spectacles will retail around $300.