7 months ago
Snap Creates Specs Inc for AR Glasses
Snap, the company behind Snapchat, has created a new company called Specs Inc.
to make special glasses that use augmented reality (AR).
These glasses, called Specs, will be smaller, lighter, and use special technology to show digital images in the real world.
Snap is making this new company to focus more on these glasses and work with other companies.
They hope these glasses will help people do things more easily and reduce waste by replacing some physical objects with digital ones.
Snap has been working on smart glasses for a long time and is now ready to compete with other big companies like Meta and Google.
The glasses will run on Snap's own operating system, and developers are already making apps for them.
Snap is also looking for investors and hiring people to help make these glasses.
Snap Inc. creates Specs Inc. as a separate subsidiary for its AR glasses launch.
Specs AR glasses will be smaller, lighter, and feature a first-of-its-kind Intelligence System.
The new subsidiary will have autonomy to make key decisions and forge new partnerships.
Snap plans to allow minority investment in Specs Inc. and is currently hiring for nearly 100 roles worldwide.
Specs will compete with other smart glasses from Meta, Google, and Apple, set to launch later this year.
- Who
- Snap Inc.
- What
- Creation of Specs Inc. subsidiary for AR glasses launch
- Where
- Global
- When
- Later this year
- Why
- To focus on AR glasses development and compete in the smart glasses market
Snap Inc.
Meta
Market Strategy
Snap Inc.
Snap is creating an independent subsidiary, Specs Inc., to focus on AR glasses and attract external investment.
Meta
Meta is focusing on expanding its Ray-Ban smart glasses, but faced supply chain issues that paused international expansion.
Partnerships
Snap Inc.
Snap is developing its smart glasses independently, leveraging its own AR technology.
Meta
Meta has partnered with EssilorLuxottica's Ray-Ban for its smart glasses.
Investment and Recruitment
Snap Inc.
Snap is opening Specs Inc. to minority investment and recruiting for nearly 100 global positions.
Meta
Meta is investing heavily in hardware, software, and research and design capabilities for its smart glasses.
Key facts
- Company
- Snap Inc.
- Subsidiary
- Specs Inc.
- Product
- Specs AR glasses
- Launch Timing
- Later this year
- Key Feature
- First-of-its-kind Intelligence System
- Operating System
- Snap OS
- Competitors
- Meta, Google, Apple
- Investment
- Over $3 billion over 11 years
- Recruitment
- Nearly 100 global positions
Quotes
Evan Spiegel
Co-founder and CEO of Snap Inc.
“Success will depend less on breakthrough hardware innovation, but more on ecosystem integration and software value”
republicworld.com
Francisco Jeronimo
VP of devices research at International Data Corporation (IDC)
“Success will depend less on breakthrough hardware innovation, but more on ecosystem integration and software value”
republicworld.com
Sources
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