Snap CEO Evan Spiegel sidestepped investors’ questions about pre-order demand for the company’s long-awaited Specs smart glasses during Monday’s earnings call, just weeks before the device’s September launch event.
“What we’re hearing from folks is really that they want to try Specs,” Spiegel told investors. “It’s obviously a high consideration purchase at $2,195. Obviously, developers and folks who are familiar with the platform really understand it and understand the technical leaps we’ve made with with this generation. I think for the broader public and consumers, it’s going to be really important for folks to go hands-on. Our upcoming launch event will be an important sort of starting point for that consumer-oriented journey.”
The company unveiled Specs in June after spending more than a decade developing the device. The wearable’s $2,195 price tag is significantly higher than most Meta Ray-Ban smart glasses, which start at around $350, but lower than Apple’s Vision Pro, which starts at $3,500.
Investors also pressed Spiegel on why he believes Snap’s strategy is financially viable for a company of its size, why it chose to go it alone rather than partner with another company, and what gives him confidence that the company can compete with Apple, Meta, and Alphabet.
