Key Points

• Snap recalls 71,000 Pixy Flying Cameras due to a fire risk associated with lithium-ion batteries.
• Four customers reported batteries overheating and bulging, leading to one minor fire and an injury.
• Pixy drones, sold between $185 and $230, are all eligible for a full refund, even for gift recipients.
• Snap advises drone owners to follow EPA guidelines for battery disposal and return the drone through the recall website.
• The Pixy, introduced in 2022, marked Snap's shift to a "camera company," but the project was abandoned after four months.
• Stock prices for Snap plummeted nearly 80% in 2022, recovering to $15.75 per share by December 2023.

Snap, the parent company of Snapchat, is recalling approximately 71,000 Pixy Flying Cameras, encompassing all miniature drones sold in 2022. This recall stems from concerns related to a fire hazard posed by the lithium-ion batteries utilized in these drones.

The Consumer Product Safety Commission reported at least four instances where customers complained about the batteries overheating and bulging. This led to one minor fire incident and resulted in an injury to one individual.

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Owners of Pixy drones, which were priced between $185 and $230, are entitled to a full refund, irrespective of whether the drone was purchased or received as a gift.

Snap recommends that drone owners remove the battery pack, adhere to EPA guidelines for proper disposal, and then proceed to return the drone through the designated recall website.

The Pixy, introduced in 2022, marked Snap's strategic shift towards being recognized as a "camera company," diverging from its social media roots, as highlighted by CEO Evan Spiegel to The Verge. Despite positive reviews, the Pixy project was abruptly discontinued after a brief four-month stint.

This recall occurs amid challenges for Snap in 2022, witnessing a significant stock price decline of nearly 80%. The decline was attributed to diminishing digital ad revenue. However, as of December 2023, Snap's stock has made a noteworthy recovery, reaching $15.75 per share, reflecting a 76% increase year to date, according to CNBC.

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