Snap Inc. (SNAP) Launches Augmented-Reality Glasses Priced at $2,195

On June 16, Snap Inc. (SNAP) launched its first consumer augmented-reality glasses, called 'Specs', priced at $2,195. The launch occurred at the Augmented World Expo in California and represents a significant hardware initiative for the company. Snap has invested over $3.5 billion in this unit amidst challenges in its advertising business. Shipping is expected in the fall to the US, UK, and France. Following the announcement, shares of SNAP declined by 1.6%.