Snap is giving its camera-mounted glasses effort another go. This version will be waterproof, have a slightly smaller profile in places, a slimmer case and a few other performance tweaks that the company believes will make it more appealing. The first version was something of a fiasco for Snap, which wildly over-ordered and then was left with hundreds of thousands piled up in warehouses. It ended up taking a $40 million write-down on them last year.
Because Snap had so much excess inventory from the first version, it likely was able to use many of those components to build new Spectacles. So even if the new version don’t prove more popular, it should be a much cheaper folly.
Snap is reportedly working on a third version of Spectacles. Unless the second version is a surprise hit, it’s hard to see why it would want to keep releasing a product that doesn’t resonate with the public. Evan Spiegel may believe that Snap’s future will be in hardware, and that may take a decade to get right, but how much patience will investors have for the company to keep getting it wrong?