Snap wrote down nearly $40 million because Spectacles are a flop (SNAP)

Snapchat spent $39.9 million in the last quarter in charges related to unsold Spectacles and retailer cancellations.
Spectacles never caught on, with under half of users continuing to use the camera glasses after a month. 
Snap, the parent company of Snapchat, said on Tuesday that it wrote down $40 million in the last quarter because of unsold Spectacles, its camera glasses.
"Unfortunately, we misjudged strong early demand for Spectacles and purchased more inventory than we now antici