Snap has established a wholly owned subsidiary called Specs Inc. to oversee the development of its augmented reality glasses, aiming for a launch later this year.

The move is intended to improve operational focus, facilitate partnerships, and offer potential capital flexibility, including minority investments.

The company is hiring nearly 100 roles for Specs.

Snap plans to release the sixth generation of its Spectacles in 2026, featuring a smaller, lighter design for consumers.

This comes amid increased industry activity, with Meta and Google investing in AI-enabled AR glasses.

Meta launched a new version priced at US$799, while Google plans a release with Warby Parker this year.

Meta also laid off over 1,000 VR employees last week to shift focus toward AI and wearables.

🔗 Source: CNBC

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