Snap will try and sell unsold Spectacles in the UK after reporting $40 million loss
November 9, 2017 | Uncategorized
Snapchat parent company Snap Inc. is bringing its camera-equipped Spectacles to the UK for the first time in partnership with pop-up mall Boxpark, located in the Shoreditch district of East London. The news, announced on Boxpark’s website today, comes on the heels of Snap’s less-than-stellar earnings report on Tuesday, in which the company said it lost $40 million on unsold units due to “excess inventory reserves and inventory purchase commitment cancellation charges.”
It’s not clear this will have a drastic effect on the company’s excess Spectacles inventory, which appears like it amounts to hundreds of thousands of unsold units, according to an earlier report in October from The Information. Although this will mark Snap’s first fixed…
