Snap Accelerates AI Glasses Ambitions With New Qualcomm Partnership
In Focus
- Snap’s AR glasses will be powered by Qualcomm’s Snapdragon technology
- The company plans to launch consumer AI-powered glasses this year
- Snapdragon chips powered initial versions of Snap’s Spectacles
- Snap’s see-through glasses will layer digital content onto the real world
Snap subsidiary Specs Inc. has inked a multi-year agreement with Qualcomm Technologies. Under this deal, Specs will use Qualcomm’s Snapdragon system-on-a-chip technology in Snap AI glasses. Specs plans to introduce consumer smart glasses this year. The deal with Qualcomm is the first major partnership for the company.
New Partnership Brings Life to Snap’s AR Glasses Project
Snap, which owns Snapchat, has been previewing its new glasses, which it calls Spectacles or “Specs”, for some time now. At the beginning of this year, the company set up Specs Inc, an entity that is entirely dedicated to the development of Snap’s Spectacles AR glasses.
The partnership between Specs Inc and Qualcomm brings new life to Snap’s AI wearable technology project. As part of the partnership, the two companies will collaborate in developing “on-device AI, cutting-edge graphics, and advanced multiuser digital experiences.” The see-through glasses will layer digital content onto the real world.
“Our work with Qualcomm provides a strong foundation for the future of Specs, bringing developers and consumers advanced technology and performance that pushes the boundaries of what’s possible,” Snap CEO Evan Spiegel said, as stated by TechCrunch.
The latest Snap-Qualcomm partnership builds on a collaboration that the two companies initiated over five years ago. Under the previous deal, Snapdragon chips powered initial versions of Snap’s Spectacles.
Snapdragon Technology to Power Snap’s Smart Glasses
Qualcomm’s Snapdragon XR platforms will be used to power Snap’s XR glasses with edge AI, high-performance computing, and energy-efficient processing. This technology will support on-device processing, which the two companies say will make interactions faster and private.
The new partnership outlines a framework for long-term collaboration between the two companies.
“Through long-term strategic roadmap alignment and technical collaboration, both companies will work together to rapidly bring industry-leading capabilities to the Specs platform, including on-device AI, cutting-edge graphics, and advanced multiuser digital experiences,” The companies said in a joint statement as reported by Verge.
Snap has been developing smart glasses for over a decade. The company introduced its first camera-equipped Spectacles in 2016. Snap has not released recent versions of the glasses to the public. These glasses have been built as augmented reality devices that overlay digital content onto the real world.
What Smart Glasses Could Mean for Snap
The launch of smart glasses could help Snap expand its revenue sources as it strengthens its business. Earlier this year, the company introduced a direct-to-fan subscription on Snapchat to boost revenue.
Over the past year, Snap generated $5.93 billion in revenue, representing an 11% growth. However, it reported a loss of $0.27 per share. Analysts forecast that Snap could become profitable this year and report $0.48 in earnings per share.
