Snap CEO sidesteps Specs preorder questions on Q2 earnings call
Evan Spiegel told investors that mass-market consumer adoption will likely wait until later this decade during the Q2 earnings call.
Stock photo for illustration only, not from the actual event
- Snap unveiled Specs in June after spending over a decade on development.
- The wearable is priced at $2,195, sitting between Meta Ray-Ban and Apple Vision Pro.
- Evan Spiegel believes the long-term opportunity for the next computing platform is enormous.
- Mass-market consumer adoption is expected to arrive closer to the end of the decade.
The company officially introduced Specs back in June following a development cycle that spanned more than ten years. The wearable device carries a price tag of $2,195, which places it significantly higher than the majority of Meta Ray-Ban smart glasses starting around $350, while remaining lower than Apple's Vision Pro which begins at $3,500.
Stock photo for illustration only, not from the actual event
During the Q2 earnings conference call, investors pressed Spiegel with multiple direct questions regarding why he feels Snap's strategy makes financial sense for a company of its scale, the reasoning behind going it alone instead of partnering with an external company, and what gives him the assurance that Snap can effectively compete against tech giants like Apple, Meta, and Alphabet.
Addressing these inquiries, Spiegel responded that the organization is convinced the long-term potential in building out the next computing platform is tremendous. When specifically questioned concerning product-market fit, the CEO estimated that it will probably take until near the end of the decade before the company experiences widespread consumer adoption.
"enormous"
Evan Spiegel
Snap's independent push into high-end hardware represents a major gamble within the fiercely contested wearable technology space. Although a $2,195 price point restricts the initial audience, positioning the product between casual smart glasses and ultra-expensive headsets highlights the social media company's search for a distinct niche.
Source: TechCrunch
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