Snap Inc., the parent company of Snapchat, unveiled its first mass-market augmented-reality (AR) glasses, called Specs, on Tuesday, priced at $2,195. The device was introduced through events held in Long Beach, California, and Paris, and is expected to ship this autumn to customers in the United States, United Kingdom, and France. CEO and co-founder Evan Spiegel described the new eyewear as a pivotal step toward a “new era in computing,” envisioning Specs as a device that puts computing directly into the user’s environment rather than confining it to smartphones.

Specs represent Snap’s multibillion-dollar investment in AR technology, combining AI-powered image recognition with the ability to overlay high-resolution 3D visuals onto the real world. The glasses aim to provide users with a hands-free way to access information such as navigation, live translations, and interactive applications like learning to play musical instruments or fixing cars, all while maintaining wearability and style. Spiegel emphasized the combination of familiarity and functionality, positioning Specs as a more lightweight alternative to Apple’s Vision Pro headset and more technically advanced than Meta’s Ray-Ban smart glasses.

Snap's commitment to AR hardware comes despite skepticism from investors and analysts, who have questioned the viability and timing of the company’s heavy spending on the division. The firm has invested more than $3.5 billion in developing AR eyewear over the past 12 years, spending approximately $500 million annually. This launch follows previous attempts, including earlier Spectacles that did not achieve widespread consumer success. The company recently reorganized its hardware efforts by spinning off its AR division, Specs Inc., into a wholly owned subsidiary to provide greater operational flexibility and opportunities for outside investment.

Investor pressure intensified earlier this year when activist shareholder Irenic Capital, holding a 2.5% stake in Snap, called for the AR division to be spun off or shuttered, labeling it a distraction from the company’s core business. Some analysts have echoed these concerns, suggesting that exiting the AR hardware business could be a key value creation opportunity. Spiegel, who holds significant voting control alongside co-founder Bobby Murphy, rejected these calls, instead opting to reduce Snap’s overall workforce by approximately 16% in April as part of broader cost-cutting measures.

Snap enters a competitive AR market where larger rivals such as Meta and Google have also invested heavily. Meta leads in smart glasses sales without displays and continues expanding its retail footprint, while Apple is reportedly preparing to launch its own mixed-reality headset. Despite the crowded field, Spiegel expressed confidence that Snap’s Specs offer distinctive features and a user experience that will help the company gain traction. He compared the current price point of Specs to the initial high costs of early Apple computers and the Vision Pro, arguing that new computing platforms often begin as premium products accessible to early adopters.

Following the announcement, Snap’s stock price declined about 10%, closing near $5.16 per share, reflecting investor caution amid ongoing challenges, including a slowdown in the company’s advertising revenue and the recent termination of an AI partnership expected to generate significant revenue. Nevertheless, Snap’s leadership remains focused on the long-term potential of augmented reality as a transformative technology in personal computing.