Snapchat reportedly has “hundreds of thousands” of its smartglasses left over, sitting idly in a warehouse, according to The Information, because it highly overestimated demand.
Known as Snapchat Spectacles, the advanced wearable technology that can record video, among a number of other capabilities, reportedly wasn’t as big of hit as the firm first thought. While Snapchat CEO Evan Spiegel said earlier in the month that it sold more than 150,000 units total, it appears that they created too many of the devices and ordered an excessive amount of parts before last year’s holiday season, according to The Daily Dot.
If the reports, which cited “two people close to the company,” are true, it is not clear what may be turning off would-be consumers. Some people could conceivably be worried about privacy, as certain electronics are susceptible to outside influence and surveillance. (RELATED: How The CIA Turned An American Pastime Into A Global Spying Apparatus)
It is also possible the $130 price point may not be worth it for a large portion of the country who aren’t attracted by its features, which included virtually automatic uploading of one’s recordings.
After sales figures of the product were somewhat dismal, Spiegel claimed that he expects it to be way more successful down the road. (RELATED: Snapchat CEO: Dancing Hot Dog Has Been A ‘Superstar’)
“Our view is that hardware is going to be an important vehicle for delivering our customer experience maybe in a decade,” Spiegel said at a conference in October, according to The Daily Dot. “But if we believe it’s going to be important in a decade, we don’t want to be starting a decade from now.”
Snapchat isn’t the only one to throw their hat in the ring for smartglasses and subsequently struggle — the eponymous Google Glass was a market failure.
Snapchat did not respond to The Daily Caller News Foundation’s request for comment by time of publication.
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