The would-be role of Snap Inc. as the first step toward mainstreaming wearable tech in the form of glasses has stalled, and now we have proof. In the company’s third quarter financial results report, released on Tuesday, Snap Inc. revealed that it will lose nearly $40 million due to unsold Spectacles, the camera glasses first sold at kiosks throughout the US.

“Unfortunately, we misjudged strong early demand for Spectacles and purchased more inventory than we now anticipate being able to sell,” Drew Vollero, chief financial officer, said regarding the expenses for excess inventory and canceled… more


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