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April 10 (Reuters) – Specs, the Snap sensible glasses unit fashioned early this 12 months, will use Qualcomm chips for its upcoming units underneath a multi-year deal introduced on Friday, marking its first main transfer.
The Specs sensible glasses launching later this 12 months will use the Snapdragon XR processor platform, the 2 firms 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 known as Spectacles.
Snap established its Specs unit in January to compete with Meta, whose Ray-Ban AI sensible glasses developed with EssilorLuxottica have develop into one of many few breakthrough successes within the race for AI-powered devices.
The Specs unit goals to offer extra independence to the group that is engaged on sensible glasses and in addition 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 minimize prices.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Maju Samuel)
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