Monday, October 23, 2017

Report: Snap's Spectacles Piling Up At Warehouses, Unsold

A report, published by The Information this morning, says that Venice, California-based Snap "badly overestimated demand" for its Spectacles product, and now has hundreds of thousands of units piled up in warehouses. The report cited two people "close to the company", saying Snap is "already struggling to meet expectations". The report comes despite a recent statement by Snap CEO Evan Spiegel which said it has so far sold 150,000 of its sunglasses, "much more than expected."