Snap debuts $2,195 AR Specs; shares drop 9.72%

Snap Inc. unveiled its first commercial augmented reality glasses, called Specs, at the Augmented World Expo 2026 in California on Tuesday. The glasses are priced at $2,195. Snap opened preorders the same day with a $200 refundable deposit. The company plans initial shipments to the United States, the United Kingdom and France this autumn and said the first units will be aimed at developers and early adopters.

Snap presented Specs as a standalone computing platform that does not require a connected smartphone. The glasses project digital content onto a user’s view and include built-in apps for web browsing, navigation, real-time translation and an AI assistant. The frames support prescription lens inserts so multiple people can share a single pair.

Social media users compared the frames to 3D cinema glasses and solar eclipse viewers, raising questions about everyday wearability. The product’s price drew attention: $2,195 is more than three times the retail price of some competing models, which sell for under $700.

Meta controls roughly 76% of global smart glasses shipments. Apple and Google are developing competing wearable products. Snap recently closed its virtual reality metaverse operations to shift resources to smart glasses and AI hardware.

The company’s stock had already fallen about 33% year to date before Tuesday’s drop. Retail participation in SNAP shares has fallen to its lowest level since the third quarter of 2024. Prediction markets and crypto-native trading platforms recorded rapid activity around the announcement.

Evan Spiegel said, “Almost 20 years since the launch of the iPhone, people are ready to think about computing differently.”

Consumer shipments are scheduled to begin this autumn in the U.S., the U.K. and France. Snap requires a $200 refundable preorder deposit and said initial units will go to developers and early adopters.