The era of wearable technology is upon us; controversy is feverishly swirling around Google Glasses – they’ve even been banned in one Seattle bar before they’ve been launched! – and rumours of Apple’s new iWatch are everywhere you look.
And now there’s one more to add to the bunch; Samsung’s rival wrist-watch - it was only a matter of time, I suppose (titter, titter).
As the world’s $358 billion smartphone market reaches saturation point, manufacturers are being forced to think of new avenues to boost sales. Growth is estimated to slow to 9.8% in 2017 from 27% this year, according to data from Bloomberg Industries. Apple’s growth in the last quarter of 2012 was the slowest in more than two years, in January Samsung warned of a reducing demand and shares in both companies have taken a hit compared to previous years. So new product lines are a must for the market leaders.
And it seems the global watch industry – which was worth $60 billion in sales last year - is the chosen one.
Executive Vice President of Samsung’s mobile business, Lee Young Hee has revealed: “We are preparing products for the future, and the watch is definitely one of them The issue here is who will first commercialize it so consumers can use it meaningfully.”
Lee did not comment on the appearance, features, cost or release date of the rumoured device, but designer’s impressions of what the device might look like have been doing the rounds online; as have rumoured names – the Galaxy Altius being the main contender.
Marshal Cohen, analyst at NPD Group described the new market burst: “The race is on to redesign the mobile phone into something that you wear,” said Marshal Cohen, an analyst at NPD Group. “We’re going to see formidable competition coming from many different directions - from device makers, accessory makers, even fashion designers.”
But the two we’re most interested in here at OnRecycle are undeniably Apple and Samsung whose ferocious rivalry took a turn last year as Samsung overtook Apple to become the world’s largest smartphone maker; they made up 29% of global shipments in the fourth quarter of last year compared to Apple’s 21% according to Bloomberg.
Samsung have experimented in the watch industry before in 2009, when they released the S9110 & the Proxima. But the new watch is expected to be smarter and sporting a touchscreen. Chief Investment Strategist at Oracle Investment Research has estimated that ¼ of existing Samsung smartphone or tablet users would be interested in the device. Ooh, we can’t wait! Hot and fierce rivalry, ground-breaking and stylish products. What more could you want?
Don’t forget that if you have any old and unused handsets then you should recycle them here at OnRecycle; we will find you the best price, guaranteed and it’s pretty good for the environment too. And don't forget to also ‘like’ us on Facebook if you’re happy with the service, or enjoy our blogs :).