Snap’s sold 42,000 Spectacles in Q2, 2017 recording a downsize in revenue

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Snap’s only physical offering to date, the Spectacle sunglasses, has done a little favor to Snapchat‘s progenitor. Snap recently revealed that it generated $5.4 million in revenue from its subsidiary business while stating about its weak earnings in the second quarter.

24 1474716500 image2 12 1502516852 Snaps sold 42,000 Spectacles in Q2, 2017 recording a downsize in revenue

That roughly adds up to the conclusion that 41,500 units of the device were sold in Q2. Compared to earnings from the subsidiary business in the first quarter which was $8.3 million, Snap Inc. has seen a decline of 35% in revenues. The declining sale of Spectacle is quite evident.

Snap is now retailing the device on Amazon as well as in retail stores of various ventures. However, how well the Spectacle does with revamped efforts will be a mystery until the reports for the third quarter is generated and made public. Snap also started selling the Spectacle through Snapbot vending machines in Europe in June 2017. Which leaves room for speculation that the sale in the second quarter in the US had gone further down.

Snap is reported to be involved in talks with a Chinese brand that specializes in manufacturing Hover selfie drones. The deal is said to have taken place with figures somewhere in between $150 million and $200 million. The news gives us a hint that Snap will try hands in a similar product.

Spectacle from Snap is a pair of sunglasses that has an inbuilt camera and connects to smartphones through a wireless connection. It streams videos to the Snapchat app and users need not pull out their smartphone each time they want to record a post for Snapchat.

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Story first published: Saturday, August 12, 2017, 11:30 [IST]



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