The long wait for Apple’s (AAPL, Financial) next generation iPhone and smartwatch is finally over. The tech giant’s chief executive Tim Cook has finally unveiled what was up its sleeves for this fall. Apple was long believed to be working on some device to enter the wearable device space. The company ultimately uncovered the Apple smartwatch on September 9.
The details
The Apple Watch is available in three variants. It has two different sizes, and it comes with 6 straps. For the high end market, the Watch will be customized and offered in solid 18 karat yellow and rose gold. Needless to say that the watch would be able to connect to the iPhone, thereby reducing the need to taking the phone out of the pocket every time there’s a call, message or notification. The watch is slated to go on sale in the coming year. It would carry a sticker price starting at $349. However, what the costlier 18-karat version would cost the pocket has not been revealed yet.
This isn’t all. There’s more to this amazing device. The watch would have health tracking sensors, such that it would be able to count the users footsteps. One could maintain reminders, and it goes without saying that the Siri would be the all-time assistant. All this is extremely attractive. So are Swiss watchmakers feeling the heat?
Is Apple Watch contending with Swiss watchmakers?
A huge amount of effort has gone into the creation of the smartwatch. There was a special team built to develop the first of its kind smartwatch. Though Samsung (SSNLF, Financial) released its smartwatch, it did not witness much craze in the market. However, Apple was particular to offer the best and hired several industry veterans including Patrick Pruniaux of TAG Heuer, Paul Deneve who served as the former Yves Saint Laurent chief executive, and Angela Ahrendts who is the former chief executive of Burberry. The appointment certainly indicates Apple’s keen inclination to make its name in the luxury watch market.
Having said this, the first thing to occur in the mind of an analyst is will it impact the high end watch market? Quite obviously, Apple is known for presenting high-end quality and premium products. Certainly an Apple Watch, which is more of a device attracting technology freaks, cannot replace the ultimate feeling of wearing a Cartier or a Rolex. However, is Apple targeting the watch industry? What would be the impact of Apple Watch in the ultra-luxury watch industry? Though not much, but some models of the Apple Watch will have a bearing on the comparatively less expensive brands of the Swatch Group.
Tissot and Rado are trying to promote their watches by flaunting some fresh technologies including the solar charging and touch responsiveness feature. Since some of their watches are prized close to the Apple Watch, we could expect a bit of competition there. Rumors have it that Swatch is creating a smartwatch to drive all possibilities of Apple Watch threatening its market share in the future.
Parting thoughts
Apple’s always delighted its lovers with the best of products they could have imagined, making them feel exclusive. The Apple Watch is an endeavor of the company to add another solid product line and revolutionize the wearable space, the way it did in the smartphone market.
