Just 150k units sold
Snapchats not been having a great year, news of a rather not so awesome Q3 2017 sent stocks crashing 20%.
And let’s not forget those Spectacles. Snap says it lost nearly $40 million on the camera-equipped sunglasses, in its own statement “primarily related to excess inventory reserves and inventory purchase commitment cancellation charges.”.
Simply put, not only did customers not go for it, those who did purchase the glasses ended up returning them. In fact CEO Evan Spiegel’s admitted they sold just over 150,000 units. The company seemed in the right mode with its viral marketing campaign, which used online countdown clocks to reveal the location of a new uniquely located Snapbot vending machine. Yet this is one product that just failed to take off. AR glasses are something Snap is still reportedly working, but they have apparently scrapped their drone project.