Last winter, Snapchat Spectacles were the must-have item, with people waiting in line for the glasses and re-sellers posting them online for as much as $4,500.

However, the hype seems to have died off as The Information reports that Snapchat's parent company, Snap Inc., reportedly overestimated the post-Christmas demand and is stuck with "hundreds of thousands" of unsold glasses.

The news is a further blow to the company that reported a $2.2 billion loss in Q1 and has constantly been fighting against Instagram Stories' encroachment on its market. However, Snapchat is selling a Dancing Hot Dog costume on Amazon, so at least it has that.

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