5 reasons Snapchat's new Spectacles could succeed where Google Glass failed

Snapchat on Friday surprised everyone with two big announcements: First, the company has changed its name from Snapchat to Snap Inc., and second, the company will sell its first hardware product ever this fall: A pair of sunglasses with cameras on them, called "Spectacles."

Snap's Spectacles have already drawn many comparisons to Glass, Google's head-mounted computer that was unveiled in 2013 to much fanfare. But Google Glass ultimately failed for many reasons: At $1,500, it was expensive; it was banned in many public places, and it was largely ridiculed by mainstream consumers for looking too geeky.

Here's why Snap's Spectacles can succeed where Google Glass failed. 

SEE ALSO: Everything we know about Snapchat's new camera glasses

Spectacles will be much cheaper than Glass.

Snap CEO Evan Spiegel still considers the first-generation Spectacles "a toy," and its price is a reflection of this. Unlike Google Glass, which was priced like a computer at $1,500 for the first "Explorer Edition," Snap Spectacles will only cost $129, making them much more accessible to the mainstream public. That's around as much as you'll pay for a pair of Ray Bans, but Ray Bans can't record your life from a first-person perspective and share it with the world through Snapchat.

If the low price wasn't attractive enough, Spiegel says Spectacles will only be available in limited quantities when they go on sale this fall. With a small supply and a more attainable price point, this should help generate a good deal of commercial demand.

Spectacles look better than Glass.

Sure, you still might think Spectacles are uglier than your favorite pair of sunglasses, but they certainly look better than Google Glass, which looked downright foreign in some respects — something that did not help the product's already stodgy image. Snap's Spectacles, on the other hand, are much more fashionable and available in three fun colors: coral, teal, and black.

These are the three colors for Spectacles. Matching lipstick not included.