Snap’s hardware ambitions may not be over even though the company took a $40 million loss on its first Spectacles that sold only 150,000 or so units. According to a report, Snap is now working on two new versions of its Spectacles wearable camera. One is said to be an improved model of the original Spectacles while the second is said to be a more ambitious upgrade.

A report from Cheddar suggests that Snap is working on a second-generation model of Spectacles that feature performance improvements and bug fixes. They will be offered in more color options than their predecessors.

The second version that the company is believed to be working on are reportedly more ambitious in that they feature two camera lenses and advanced camera technology. That would obviously drive the cost up and the report suggests it may be around $300.

Snap is reportedly in talks with glasses companies such as Warby Parker and Luxottica to license its camera technology which would see the technology introduced with Spectacles being available in a wide variety of styles from different manufacturers.

The company is apparently quite far along in the development of its latest hardware products and is believed to be targeting a launch in the second or third quarter of this year. It’s now expected to produce fewer units than it did the last time to ensure that it doesn’t take as big a hit on unsold units as it did with the original Spectacles.

Whether or not the second-generation Spectacles will be a success remains to be seen.

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