They were supposed to change the snapping game forever, and maybe they did, but Snap’s Spectacles caused a staggering $40 million loss on unsold devices to the company.
To try to get rid of some of those Spectacles — which, according to reports, are sitting in a warehouse in China by the hundreds of thousands — Snap has announced it will sell them in a pop-up shop in east London.
Boxpark Shoreditch, a hipster hotspot in the UK, will host a dedicated store for the Snap spectacles starting Saturday, 11 November, “just in time for Christmas and the winter sport season,” a press release said.
The store will be an interactive space where people can try out the Spectacles, and hopefully buy them.
Snap said the $40 million loss was “primarily related to excess inventory reserves and inventory purchase commitment cancellation charges.”
Snap CEO Evan Spiegel said the company only sold 150,000 units, according to a report on The Information.
Each pair of glasses costs $129.99 (£129.99).
They became available in London in July this year, and people could buy them at a vending machine near the London Eye.
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