Snap Inc. unveiled its first consumer‑focused AR eyewear, Specs, priced at $2,195. CEO Evan Spiegel called the device his “life’s work” and positioned it as a challenger to Apple’s Vision Pro and Meta’s offerings. The launch comes as Snap’s share price has fallen over 90% in five years and its ad revenue remains under pressure.

The company has poured $3.5bn into AR hardware and spends roughly $500m annually on the division. Activist Irenic Capital recently urged Snap to spin off or abandon the business, arguing it distracts from core profitability. Snap responded by cutting 1,000 jobs and spinning the hardware unit into Specs Inc., but the subsidiary remains self‑funded.

Specs will ship this autumn to the US, UK and France, with a debut at the Augmented World Expo in California and a Paris showcase on a Seine bridge. By keeping development in‑house, Snap hopes the wearable’s “large display” and AI‑driven features will revive growth and give investors a tangible path beyond its struggling advertising model.