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Snap Working on Two New Spectacles Versions (Report)

Snapchat corporate parent Snap Inc. hasn’t given up on wearables just yet: The company is working on two new versions of its Spectacles glasses, according to a new Cheddar report. A a first updated version is currently being manufactured and could ship as early as this fall.

A Snap spokesperson declined to comment.

The 2018 edition of Spectacles will feature new colors and a water-resistant body, but won’t come with any major hardware updates, according to the report. In addition, Snap is already working on a third generation of the device that will feature two cameras, which is supposed to allow 3D effects in recorded videos.

The company may also add GPS to that model, and bump up the price to as much as $300 per unit. Spectacles currently sell for $130 — if they sell at all, that is. Snapchat was able to generate some excitement for Spectacles when it first introduced the product in 2016, thanks in part to a release strategy that was based on artificial scarcity.

However, consumers largely shunned the sunglasses, which offer the ability to record short clips and post them to Snapchat, once there were made more widely available in early 2017. Snap CFO Drew Vollero revealed late last year that the company had to write off close to $40 million in unsold inventory and excess purchasing commitments because it had overestimated the demand for the product.

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