Snap may have thousands of unsold Spectacles: Report

Snap's overhyped Snapchat Spectacles aren't a hot commodity in the market right now. A report from The Information claims that thousands of the company's unsold Spectacles are lying in a warehouse in China. Snap apparently over-estimated the demand for the product, ordering way too many spectacles from the manufacturing unit.

According to the report in The Information, Snap CEO Evan Speigel had said that the company had sold “over 150,000 units” of Spectacles glasses, exceeding internal goals for first-year sales. Apparently, executives were so enthused by how popular Spectacles were in their limited run, that the company ordered more and is left holding the bag now that demand has waned.

The Information also has it that several of the units are unassembled and individual components may be used in other products. However, it is quite evident that Snap is giving up on the hope to sell out the product.

Snapchat Spectacles allow users to wirelessly record videos into Snapchat from their sunglasses, which they can then send and share from their accounts. After teasing the sunglasses in late 2016, Spiegel suggested that the product could be a significant part of the future of the company.

Additionally, The Information also notes that Snap is considering purchasing drone maker Zero Zero Robotics to further expand its hardware unit.