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00:02Snap CEO Evan Spiegel launched Spex, the company's first AR glasses aimed at consumers,
00:09priced at $2,195, according to CNBC. Spiegel believes consumers are growing tired of staring
00:15at smartphone screens and are ready to embrace a new form of computing that allows them to
00:20experience digital content through see-through lenses while remaining present in the real world.
00:25He described Spex as a shared, real-world computing experience viewed through see-through lenses.
00:31The glasses will ship later this year in the US, UK, and France. The launch put Snap in direct
00:37competition with Meta and Google, both of which have their own smart glasses efforts.
00:42An IDC analyst warned that rising inflation and Snap's young core audience make the premium price
00:47a tough sell. Snap shares fell around 4% following the announcement.
00:52For all things money, visit Benzinga.com.
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