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Snapchat is one of the most popular social media channels with more than 166 million daily users sharing their stories through the app. However, Snap's one and only hardware offering to date is far behind in sales which is now a problem for the company. Snap Spectacles which is a camera gizmo, was apparently one of the hottest products last winter but soon after the holiday season got over the demand for the product died out. This was contradictory to the sales projection of Snap and the Spectacles are now lying untouched in warehouses waiting to be sold out.
Snap had over ordered its hardware product. Although, Snap CEO Evan Spiegel disclosed earlier this month that the brand has sold more 150,000 units. The numbers are still far behind the expected sales which is why thousands of units are lying in warehouses with a slim prospect of attracting consumers.
The information also has it that several of the units are unassembled and individual components may be used in other products. However, it is quite evident that Snap is giving up on the hope to sell out the product.
Evan gave a statement earlier this month mentioning that the product is actually Snap's preparation to be future ready, "Our view is that hardware is going to be an important vehicle for delivering our customer experience maybe in a decade. But if we believe it's going to be important in a decade, we don't want to be starting a decade from now."
Future-ready or not, it is safe to state here that the price of spectacles may further roll down and if you are looking forward to buying it, a couple of months from now would probably be the best time to do so.