We reported earlier how Apple is playing catch-up with the iWatch release in the fourth quarter this year. The wearable technology market is set to triple this year to 19 million units sold and research firm IDC forecasts 111.9 million units by 2018.
By the time Apple comes around we are already going to have a number of interesting devices on the market, already shipping now are Android based devices from both Samsung and LG and later this summer the Moto 360 is coming, that is the device which most people are waiting for as the classic design went down well with consumers. You can read more details about all the Android based smartwatches in our Google I/O report.
So Apple is late to the game but they intent to come in with a bang and as usual charge a premium for their product. According to CNBC, they have hired an executive from Tag Heuer and will approach the market with “Swiss made” which for traditional watches stands for quality and it is where most of the luxury watch makers are from.
According to 9to5Mac the executive CNBC was referring to is Patrick Pruniaux, Vice President of Sales and Retail.
Luxury goods analyst Mario Ortelli told CNBC:
“For sure they are trying to approach the Swiss manufacturers, but the Swiss have got no great interest in working with Apple – if you are a luxury producer and you cooperate with Apple, you have got a dilution.
They (Swiss watchmakers) do not want to create a device like the iPhone, the iPhone is designed in California and assembled in China – so they don’t want to dilute the value of the Swiss name,” he said.
Apple still is one of the strongest brands in the world and have a huge loyal customer base and a connected ecosystem with their other devices. So even if they will be late to the game the iWatch can still be a huge success.