It's been less than four months since Snap unveiled a selfie drone called Pixy, but it seems the company is already giving up on the device. CEO Evan Spiegel told employees that Snap is halting further work on Pixy amid a reprioritization of resources, according to The Wall Street Journal.
The $250 drone can take off from and land in your hand. It has four preset flight paths and can capture photos and videos that you can transfer to and share on Snapchat. For now, at least, Pixy is still available to buy from Snap's website. The Journal suggests Snap will keep selling Pixy for the time being. Snap declined to comment.
Like many other companies, Snap has been feeling the brunt of a broader economic slowdown. In July, it posted its weakest quarterly sales growth to date, which sunk its share price by around 40 percent. Snap's stock has fallen by around 80 percent over the last year. The company also said last month that it would significantly slow down hiring.
Several major tech companies have been shifting priorities in recent months. Meta, for instance, reportedly shelved plans for a smartwatch with two cameras and it's said to be refocusing Portal devices as enterprise products. Others have slowed down hiring plans and laid off employees.