Snap, the parent company of popular social app Snapchat, is reportedly launching a new pair of smart glasses. Cheddar claims that Snap plans to launch the second-generation Spectacles this year, followed by a more advanced version with dual cameras and premium finish in 2019. The second-generation Spectacles smart glasses will be water resistant and come in new colour options. The report further said the smartphone-linked smart glasses will essentially focus on feature performance and bug fixes. The Spectacles 2.0 will launch in the market sometime this year. The third-generation smart glasses could be more advanced with an all-new design and two cameras. Currently being tested, the prototype model has an aluminum design with more circular lens frames and a dual camera setup with 3D-like depth effects in videos. Apparently, Snap aims to market the third-generation Spectacles as a high-end product, complete with a leather case and a built-in GPS. The third-generation smart glasses could be priced about $300 (or approx Rs 19,559) when it launches in 2019. The company could also license its camera technology to traditional eyewear makers such as Luxottica and Warby Parker, as reported by Cheddar. It has been claimed that Snap has plans to add Augmented reality (AR) capabilities in its next-generation smart glasses, with the possibility of an integration between the smart glasses and Snapchat's AR Bitmoji avatars. Snap recently acquired a company called FiveLocal that will help the company to perfect the camera technology for its ambitious smart glasses project. The hype around the Spectacles was high when it launched in 2016, thanks to the company's clever marketing stunt. At $130 (or approx Rs 8475), the first-generation Spectacles came in multiple colours and feature a single camera to capture and record 10-second video clips to Snapchat. The hype soon died, and its camera-enabled Spectacles was declared flop. Snap evidently lost $40 million on Spectacles video-recording glasses, due to "excess inventory reserves and inventory purchase commitment cancellation charges".
