Snapchat unveils Spectacles 2.0, but it won’t be coming to India

Snapchat hasn't given up on its Spectacles, a smart wearable that lets users record photos, videos and audio that can later shared to Snapchat friends. Despite the failure of the first-generation of the product, Snapchat parent Snap Inc. on Thursday said it had begun selling a new version of its eyewear, conveniently called Spectacles 2.0.

The new eyewear is currently available in the US. The company has no plans to launch the device in India at this time, said a company spokesperson.

With the new version, Snapchat is focusing on making the product more usable for its users. The new product, Spectacles 2.0 "are now more comfortable to wear with a smaller profile, and they're water resistant -- so you can bring them to the beach, or your next pool party," Snap Inc. said in a statement.

The sunglasses allow users to record photos, video and audio that can then be transferred to Snapchat for messages to friends. The new glasses will sell for $150, or $20 more than the first generation.

Last year, Snap took a writeoff of some $40 million for unsold inventory of its Spectacles. Snap said it sold 150,000 Spectacles, but some reports said it had produced hundreds of thousands that were unsold.

Snap, which reports its quarterly results next week, has been losing money since its stock market debut last year.

Snapchat's share of digital advertising is small but growing. The research firm eMarketer says the social network is expected to generate $1.36 billion in worldwide ad revenue, up more than 92 percent over last year but accounting only for a market share of just 0.5 percent.

Known for its disappearing messages popular with teens, Snapchat has expanded its mobile application to include video, news and other content from a variety of media partners.

The latest announcement comes after Snapchat has reportedly begun tweaking the app design. The social networking platform had faced major backlash from users over its new redesign.

According to reports, Snapchat is currently testing the new application that would move the user's friends' stories alongside the "celebrity content" in the "Discover" section, similar to the older version.

(with inputs from HT Correspondent)