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New Delhi: Snap has shifted its augmented reality glasses project into a new subsidiary as it intensifies efforts to penetrate the consumer smart glasses market. On Wednesday, the company declared that its AR hardware division has taken over a wholly owned establishment which it has named Specs Inc.
Snap claimed that the new organisation will assist it in becoming more focused before it rolls out Specs AR glasses later in the year. It is an indicator of increased competition in wearable technology, with competitors such as Meta and Alphabet taking a more aggressive step into AI-enhanced eyewear.
Snap claimed that with the subsidiary, its glasses business will have a higher level of operational focus and alignment. Specs Inc. will also provide Snap greater freedom to seek out partners and raise capital, as well as minor investments.
Although Snap did not specify the number of employees that would be transferred to the new unit, it affirmed that Specs is in the process of filling almost 100 jobs. In November, the company had informed investors that it was going to establish a separate subsidiary to undertake its AR activities.
Snap has earlier indicated that it plans to launch the sixth generation of its glasses in 2026, but the price and specific dates are unknown. The future models will be smaller and lighter compared to previous models, and they will be tailored to the needs of the everyday consumers.
Competition is on the rise, which is noteworthy of the announcement. Last year, Meta and EssilorLuxottica released smart glasses which had inbuilt displays at a cost of $799. Google has affirmed that they would launch glasses with the collaboration of Warby Parker later this year.
Different technology giants are increasingly placing their bet in smart glasses as the fourth platform of computing. Recently, Meta cut over 1,000 employees in its Reality Labs division due to the shift toward artificial intelligence and wearables, which worries developers that Facebook is no longer speeding up virtual reality development.
Provided that Specs Inc. is established, Snap is shaping up to compete in the rapidly changing AR and AI eyewear industry more directly.
