Snap Rolls Out New AR Glasses, Streamlined App Design And Other New Features At Sixth Annual Partner Summit

deadline.com:

Snapchat parent Snap Inc. introduced the fifth generation of its augmented reality glasses as well as a host of other enhancements aimed at making it more competitive with TikTok and Instagram.

The news came during the sixth edition of the company’s annual Partner Summit, held at its L.A. headquarters and streamed online.

Along with a number of updates to existing product features, Snap said it is finishing tests of a significant redesign of the Snapchat app, reducing its previous five separate sections to three.

While Snap says it attracts 850 million global users, it has seen its stock price drop 40% in 2024 to date amid intense competition from platforms with far larger user bases.