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Snap Spectacles will retail at $150, $20 dollars more than the first edition which was released in November 2016.

It's arguable that Spectacles provide a fun and trendy-ish way for Snapchat to differentiate itself from Instagram. With almost all of the 3.5 billion Snaps captured every day, taken on a phone, the company wants to take a leadership role as camera technology evolves, he said. Plus, every photo and video will automatically be captured in high-definition (1,642 x 1,642 and 1,216 x 1,216, respectively).

Audio in videos has also been improved thanks to dual built-in microphones, and both photos and videos transfer to the service in HD four times faster than before.

Snap's Spectacles 2.0 are available today for purchase on Snap with a price tag of $149.

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Ultimately, the company had to write down $40 million worth of unsold Spectacles inventory after selling around 220,000 units. Snap (formerly Snapchat) is back with its second generation of Spectacles and have made a number of improvements to the original model. More recently, Snap began hawking the smart sunglasses online at Spectacles.com, while Amazon.com began carrying the fancy eyewear for $129.99. Recharging is done with the included charging case.

First, it created a slimmer design to fit more easily in a trousers pocket, with a noticeably smaller case for easy storage in the bag.

The Spectacles are now water-resistant in shallow water as well. Indeed, eMarketer expects Snap to generate $1.36 billion in net worldwide ad revenue - up more than 92%, year-over-year.

The FCC filing seen last week for the new Spectacles didn't reveal a lot, but we did learn that they will come with 802.11ac WiFi and are labeled model "002". Three new colors are available, onyx, ruby, and sapphire, with two different lenses per color variant. The first edition had a limit of 10 second video clips, but the new one expands, and lets users capture a second clip, after the initial 10 second one, of up to 30 seconds.