Was Snap nearsighted to think Spectacles would be a runaway hit?

Snapchat Spectacles by Snap Inc. are displayed inside the company's pop-up store in New York, U.S., on Monday, Dec. 5, 2016. Snap Inc. has confidentially filed for an initial public offering at a target valuation of $20 billion to $25 billion, people familiar with the matter said. Photographer: Saul Martinez/Bloomberg

Hundreds of thousands of unsold, unwanted Spectacles are sitting in Snap's warehouses, according to a new report, suggesting the company's first foray into hardware wasn't the success it was hoping for. 

Snap, known for making the disappearing messaging app Snapchat, vastly overestimated demand for its newest product, The Information reports. Now piles of spectacles – trendy sunglasses that shoot short bursts of video to be shared via social media – are laying around, either fully assembled or in parts, two anonymous people close to the company told The Information.