Snapchat (NYSE:SNAP) have released its Spectacles across Europe today, after unveiling them back in September 2016.
The glasses, which look like regular sunglasses, will allow users to record short videos. The glasses feature a built-in camera that is activated on the push of a button, located by the right lens frame.
The device allows you to record a short 10-second video or alternatively, 30-second if you press the record button twice. These videos are then automatically transferred to your Snapchat app, where they are saved in the ‘memories’ section.
The glasses will not be available in retail locations. Instead, they will be sold through secret ‘Snapbot’ vending machines across London, Paris, Berlin, Barcelona and Venice. In addition, you can also purchase its Spectacles online for £129.99. The glasses currently come in black, blue and red.
Last month, Snapchat shares fell 23 percent amid concerns that the platform would be unable to compete with more established networks such as Facebook and Instagram.
In May Snapchat reported it had eight million new users in the past three months, nevertheless this remained significantly below analyst expectations.
Despite investor concerns, Snapchat did report a 286 percent increase in revenues, driven mostly by a rapid increase in the group’s advertising operations. Moreover, company sales were up $38.8 million from a year previously – at $149.6 million in the first quarter of 2017.
Recently, the company has looked towards shifting the company’s focus to camera technology as opposed to App development. Today, the company commented amid the Europe Spectacle release:
“We believe that reinventing the camera represents our greatest opportunity to improve the way people live and communicate.”
“Our products empower people to express themselves, live in the moment, learn about the world, and have fun together.”
Ultimately, U.S Spectacles sales have accounted for a marginal portion of the company’s revenue thus far, with the camera glasses making just over more $8 million during the quarter — out of a total of revenue of $150 million. It remains to be seen whether the innovative glasses will make more of an impact in Europe.
As of currently, shares are currently steady up 0.61 percent as of 12.06PM (GMT).