Snap lost $40 million on Spectacles

It turns out Snap's Spectacles weren't quite as exclusive as the company's marketing would have you believe.
The company said in its earning report on Tuesday that it lost nearly $40 million on unsold devices, The Verge first reported. That comes out to around 300,000 pairs of the camera glasses.
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The company said the loss was "primarily related to excess inventory reserves and inventory purchase commitment