Snap Inc., the parent company of Snapchat, has established a new, wholly-owned subsidiary named Specs Inc. This strategic move is designed to sharpen the focus and streamline operations for Snap’s burgeoning augmented reality (AR) glasses division. The company anticipates this will pave the way for the launch of its new AR glasses, slated for release this year.
The creation of Specs Inc. is intended to foster greater operational autonomy and strategic alignment as Snap prepares to bring its next-generation AR glasses to market. Beyond internal operational benefits, the subsidiary is also positioned to attract new strategic partners and offers enhanced financial flexibility, including the potential for minority investments, according to a company blog post. While Snap has not disclosed the exact headcount for Specs Inc., it has indicated that the subsidiary is actively recruiting for approximately 100 open positions, underscoring the significant investment in this area.
This development aligns with Snap’s previous disclosures. In November, the company informed analysts of its plans to form such a subsidiary. This follows an earlier announcement in June, where Snap outlined its intention to release the sixth iteration of its Spectacles smart glasses in 2026. While specific details regarding the on-sale date and pricing remain under wraps, Snap has indicated that these upcoming glasses will feature a more compact and lighter design, with a clear focus on consumer appeal.
The establishment of Specs Inc. occurs amidst a broader industry trend of major technology players intensifying their efforts in the AR glasses space. Competitors such as Meta Platforms and Alphabet are also heavily investing in the development of AI-powered eyewear. Meta, in collaboration with eyewear giant EssilorLuxottica, launched its latest iteration of smart glasses in September, featuring a compact display and priced at $799. Meanwhile, Alphabet has also signaled its intent to release its own smart glasses, reportedly in partnership with Warby Parker, within the current year.
This strategic carve-out by Snap also takes place against a backdrop of significant shifts within the AR/VR landscape. Last week, Meta announced substantial layoffs within its Reality Labs division, impacting over 1,000 employees. This move signals a decisive pivot by Meta towards artificial intelligence and wearable technology, potentially at the expense of some virtual reality initiatives. These layoffs have reportedly generated concerns among developers regarding a potential slowdown, or “VR winter,” in the virtual reality sector.
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