Snap unit to use Qualcomm chips for upcoming AI smart glasses

April 10 (Reuters) - Specs, ‌the Snap ​smart ​glasses unit formed early this year, will use Qualcomm chips for its ‌upcoming devices under a multi-year deal announced ⁠on Friday, marking its first major move.

The Specs smart ‌glasses launching later this ‌year will use the Snapdragon XR processor platform, the two companies said on Friday. ​Financial details of the deal were not disclosed.

The deal builds on a years-long tie-up ⁠that has seen Qualcomm chips power multiple previous generations of ​Snap's developer-focused smart glasses called Spectacles.

Snap established its Specs unit in January to ​compete with Meta, whose Ray-Ban ‌AI smart glasses developed with EssilorLuxottica have become one of the few ⁠breakthrough successes in the race for AI-powered gadgets.

The Specs unit aims to provide more independence to ⁠the team that is working on smart glasses and ​also opens room for external investment, the Snapchat-parent has said.

Friday's announcement comes after activist investor Irenic Capital Management, ‌which disclosed an economic interest of about 2.5% in Snap's Class A ‌shares, last week pushed the company to ⁠either spin off ‌or shutter its ​Specs unit and cut costs.

(Reporting by Jaspreet Singh in Bengaluru; Editing by Maju ‌Samuel)

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