By Meghan Bobrowsky
Snap Inc. /zigman2/quotes/205087158/composite SNAP +1.13% is sunsetting future development of its Pixy flying selfie camera less than four months after launching the product publicly, according to people familiar with the matter, becoming the latest technology company to adjust product plans during the economic downturn.
Snap Chief Executive Evan Spiegel recently told staff during a regular question and answer session of the decision around the Pixy drone. The effort to halt further development of the project is part of broader reprioritization of company resources, Mr. Spiegel told staff, the people said.
Pixy is a small drone that takes off and lands in the user’s hand. It was introduced at the end of April during Snap’s annual partner summit with a $230 starting price. When it first launched, Mr. Spiegel said it planned to sell a limited quantity of them.
Snap will continue to sell the current iteration of Pixy, according to a person familiar with the matter. As of Thursday morning, it was available for online purchase.
An expanded version of this story appears on WSJ.com.
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