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Specs, the Snap sensible glasses unit shaped early this yr, will use Qualcomm chips for its upcoming gadgets underneath a multi-year deal introduced on Friday, marking its first main transfer.
The Specs sensible glasses launching later this yr will use the Snapdragon XR processor platform, the 2 corporations stated on Friday. Financial particulars of the deal weren’t disclosed.
The deal builds on a years-long tie-up that has seen Qualcomm chips energy a number of earlier generations of Snap’s developer-focused sensible glasses referred to as Spectacles.
Snap established its Specs unit in January to compete with Meta, whose Ray-Ban AI sensible glasses developed with EssilorLuxottica have grow to be one of many few breakthrough successes within the race for AI-powered devices.
The Specs unit goals to offer extra independence to the staff that’s engaged on sensible glasses and likewise opens room for exterior funding, the Snapchat-parent has stated.
Friday’s announcement comes after activist investor Irenic Capital Management, which disclosed an financial curiosity of about 2.5% in Snap’s Class A shares, final week pushed the corporate to both spin off or shutter its Specs unit and lower prices.
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