Snap (SNAP) Launches $2,195 AR Glasses, CEO Declares "Smartphone Era Ending"

Snap Inc. (SNAP) unveiled its first consumer-ready augmented reality glasses "Specs" on June 16, 2026, priced at $2,195, with CEO Evan Spiegel positioning the device as the successor to smartphones. The product debuted at the Augmented World Expo in Long Beach, California, and will launch in the U.S., U.K., and France this fall. Specs features dual Qualcomm (QCOM) Snapdragon processors, 4-hour battery life, and integrates AI tools including Claude Code and OpenAI Codex for agent-like interactions. The price represents a 15-fold increase from Snap's 2016 Spectacles ($130), signaling a major strategic pivot toward spatial computing. The launch intensifies competition with Meta (META), whose Ray-Ban smart glasses sell for $379-$799, and Apple (AAPL), reportedly developing AR glasses for 2027. Analysts note challenging timing: Snap has posted losses since its IPO, and activist investors recently demanded the company shutter its Specs division after burning through $3.5 billion. IDC warns the $2,195 price point may deter Snap's core young demographic amid persistent inflation.