Snap – the company behind the popular disappearing photo app and Snapchat Spectacles – has revealed its Q4 2017 revenue, and while it's largely positive for the company, there's not good news for fans of the company's smart eye wear.
In a note to investors after the Q4 2017 revenue report, the company noted it doesn't plan to "annualize" Snapchat Spectacles.
That means you won't see a new pair of Snapchat Spectacles announced in the next year or so. We can also safely take from the comment that the company isn't confident in its specs and after disappointing sales of generation one it seems Snap is moving away from wearables.
Not anytime soon
In November last year, it was revealed the company had only sold 150,000 pairs of the glasses and it had a lot of leftover stock.
At the time, Spiegal said, "We were very excited about Spectacles and by the initial reception and because we were so excited I guess we made the wrong decision and we were balancing the trade off with unit economics of course that come with hardware, but ultimately we made the wrong decision based on the early traction and ordered a lot of long lead time parts and ultimately weren't able to sell as many Spectacles as we thought we'd be able to based on the early adoption".
The company set up shops in London and California in an attempt to shift stock, but both of those have now closed and the firm seems to only be selling the specs online in the future.
But it's not all negative. One report from Bloomberg has suggested the company met with potential partners for future smartglasses technology at CES this year, and the firm is clearly still interested in Augmented Reality with its push on filters and lenses.