Snap CEO Evan Spiegel avoided directly answering investors’ questions about the size of preorders for the Specs smart glasses during the company’s second-quarter earnings call on Monday, just weeks before the launch event scheduled for September.
Spiegel said the company is hearing from users that they want to try Specs for themselves, noting that their $2,195 price makes them a purchase requiring considerable thought. He added that developers and people familiar with the Snap platform already understand the potential of the new generation and the technological leaps the company has achieved, while hands-on testing will be important to convincing a broader audience.
High price compared with competitors
Snap unveiled Specs in June, after spending more than a decade developing the device. The glasses are significantly more expensive than most Meta Ray-Ban smart glasses, which start at around $350, but remain cheaper than the Apple Vision Pro, which starts at $3,500.
According to Spiegel, the upcoming launch event is set to represent an important starting point for a consumer-focused path. During the call, he did not provide a specific figure for preorders or detailed indicators of expected sales.
A bet on a new computing platform
Investors also pressed Spiegel on the financial viability of the Specs strategy for a company the size of Snap, why it chose to develop the product independently rather than partner with another company, and what gives it confidence in its ability to compete with Apple, Meta and Alphabet.
Spiegel responded that Snap sees a “massive” long-term opportunity in developing the next computing platform. He said the company believes it is among the first to move in this category, and that this differs from its earlier entry into social media, when apps such as Facebook, Instagram and Twitter already existed and Snap had to innovate in order to continue growing.
According to Spiegel, developing Specs glasses requires tackling a set of difficult technical challenges, while Snap’s experience with innovation gives it an advantage in this emerging category. He also pointed to the fact that developers have been building on the Specs platform for several years.
Mass adoption could be delayed
When asked about the product’s market fit, Spiegel said that Specs reaching mass consumer adoption could be closer to the end of the decade. He explained that reducing the glasses’ weight and cost will be necessary for the number of units sold to increase meaningfully.
Spiegel’s statements reveal that Snap is treating the upcoming launch as an introduction and trial phase rather than evidence of immediate widespread adoption. The high price, along with the need to try the device in person, places clear limits on rapid expansion, even as the company bets on its developer base and its status as an early mover in the category.