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Snap sets up 'Specs' subsidiary to lead AR glasses development

Snap has established a subsidiary called Specs that will exclusively handle development of augmented reality glasses, as it seeks to accelerate commercialisation of its next-generation device. CNBC reported on Jan. 28 that Snap aims to improve operating efficiency for its AR glasses through the unit and is keeping open the possibility of securing outside partners and attracting investment. Specs is hiring more than 100 people and plans to launch sixth-generation AR glasses in 2026.