Snap is spinning off its augmented reality smart glasses into a brand-new company called “Specs.” By making this business its own independent unit, Snap hopes to bring in outside money and finally give Meta some real competition in the growing world of high-tech eyewear.
This move comes at a time when AI-powered glasses are becoming the next big thing. Meta has already seen a lot of success with its Ray-Ban smart glasses, proving that people actually want to wear cameras and AI on their faces. However, building these gadgets is incredibly expensive. It costs a fortune for research and design, and even a small problem in the supply chain can ruin production. Even a giant like Meta recently had to pause its international expansion for its display glasses just to make sure it had enough stock for U.S. customers.
Snap is not a newcomer to this game. CEO Evan Spiegel says the company has poured more than $3 billion into AR technology over the last decade. The new “Specs” glasses will feature an “intelligence system” designed to figure out what you need and help you with your daily tasks.
The competition is heating up fast. While Meta currently controls about 70% of the market, other big players are jumping in. Google has already teamed up with Warby Parker to build its own version. To keep up, the new “Specs” unit is looking for partners to invest and is currently hiring about 100 people worldwide to get the product ready for launch.
Industry experts believe that winning this race isn’t just about having the coolest hardware. It’s about how well the glasses work with the apps you already use and whether the software actually makes your life easier. Snap is betting that its years of experience with AR filters and fun social features will give it an edge. For years, Snap was known mostly as an app company, but with “Specs,” it is clearly trying to become a major player in the world of hardware.
