The sales of the camera-recording device has not been very encouraging for the millennial-friendly app.
Last year 2016, Snapchat now Snap Inc. introduced Spectacles, a pair of sunglasses that records and shares videos to Snapchat.
After hyping it with experiential marketing, millennials grabbed and embraced it but so far the fanfare seems to have died down.
So far Snap has only sold 150, 000 units of the device, and according to internal data from Snap, less than half of those who own a pair of the camera-equipped specs continued to use it a month after purchase.
Snap is operating at a loss currently with thousands of the Spectacles sitting in warehouses in China. Jobs have had to be cut and further investment in the hardware market for Snap has been put off indefinitely.
It’s been challenging times for the hardware market players and investors, with phone screens of the big companies developing various faults, and the smartphone devices not selling altogether.