Snap loses over R500 million on unsold Spectacles
Snap, the company behind Snapchat, has released its Q3 2017 financial results. The results revealed that it lost almost £40 million thanks to unsold Spectacles, its camera-equipped sunglasses it sold online and in vending machines. The loss was attributed to “excess inventory reserves and inventory purchase commitment cancellation charges”, it said.
- ^ The Verge (www.theverge.com)
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