Snapchat Inc in November last year had launched its new piece of hardware, the Snapchat sunglasses with camera. The sunglasses looked cool with the camera which blew everyone’s mind.
Now after a year, the company is holding “hundreds of thousands” of these unsold Spectacles in its warehouse in China. The unsold pieces could be a result of over excitements of the Snap executives with the initial demand of the Spectacles making them to assemble more pieces.
The company had overestimated the demand for its Spectacles based on the initial response with the company selling more than 150,000. The estimation has now been proved wrong with the glasses being lying in the company’s warehouse assembled or in parts with no immediate sign of selling.
The over estimation was caused due to the initial response the company got when consumers had lined up at the mobile vending machines which dispensed the glasses and there was huge orders received from the consumers.
As always the response fell over a period of time and now the company finds less people to actually buy the product. The bad news for the company is that the company’s stock price is now trading below the IPO price for nearly a year now.
It now remains to be seen whether the company’s Sunglasses sales picks up any time soon or the company would be having the unsold stock lying in its warehouses for ever.