French luxury group LVMH’s watch maker, Tag Heuer, had announced on 19th March that they will be launching their own version of smartwatch later this year. A venture with Intel Corporation (NASDAQ: INTC), the smartwatch will be using Google Inc’s (NASDAQ: GOOGL) Android operating system and is set to compete head-on with the Apple Watch by Apple Inc (NASDAQ: AAPL).
Due to go on sale on April 24, the Apple Watch price starts from US$350 with its 18-karat gold model going for US$17,000. Being the company’s first new product since five years ago, the Apple Watch is being closely watched by competitors and investors.
Details about pricing, functionality and design of the Tag Heuer smartwatch was not disclosed. Tag Heuer Chief Executive, Jean-Claude Biver, aimed to launch the first Android luxury smartwatch in the last quarter of 2015.
Believing that wearable technology will take off, Intel struck several partnerships with several notable consumer brands like Oakley and Fossil.
The Bottom Line
With more and more wearable technology coming out of the production line, it is no wonder big companies like Apple Inc., Google Inc. and Intel Corporation would want to have a bite on this slice of the pie. We will have to wait and see with the head start that Apple Watch has over the Android smartwatch, are they able to dominate the smartwatch market or can Android smartwatch overtake Apple Watch to dominate the world of wearable teachnology.