Industry giant Apple has been investigating the possibility of entering a new market, according to rumours that have been circling around the last few months. The leading name in smart technology is thought to be in the process of developing a new smart watch, known as the iWatch.
What is an iWatch?
Industry sources state that an iWatch would be a smart watch that has a traditional mechanism. It will become Apple's first wearable gadget, with the capability to deliver messages and contain basic apps, making it much more convenient than having to check or carry other smart devices. The family of smart-watch products is said to suit a variety of styles, ranging from geek to chic. Swatch previously attempted to produce a smart watch with the aid of Microsoft technology, but with little success.
When Will It Be Launched?
There has been no confirmed launch date as yet from Apple, but rumours seem to point towards October of this year. Some analysts, however, argue that it may be later than this, although other rumours suggest that Apple has already set the ball rolling for its mass production. Interestingly, Apple has yet to even confirm that it exists.
The Evidence for the iWatch
There has been some pretty conclusive evidence, however, that Apple has been taking an interest in the watch-making market. For some time now, there have been rumours that Apple has been in talks with well-known Swiss watchmakers in an effort to gain expertise and know-how from established elite brands in the industry. Most notably, Apple has recently recruited Patrick Pruniaux, former retail and sales vice president from TAG Heuer, which certainly indicates that the company has got an interest in this market. Insiders also believe that Apple has been in talks with a number of other watch companies, including Swatch.
How the iWatch Is Being Perceived
Currently, the Swiss watch-making giants do not perceive an iWatch as a threat to their business operations. Many remain sceptical of wearable technology, stating that smart watches are more likely to be a fad and cannot compete with the elite watches worth thousands of pounds. Apple's new plans have not caused too much concern for luxury-goods conglomerate LVMH, as it does not perceive the iWatch to be a direct competitor.
Expert horologists argue that tech giants such as Apple lack the style and design know-how needed to create what is essentially an item of fashion. With the arrival of a former TAG Heuer executive on board the Apple ship, however, this may become much less of a stumbling block. Insiders suggest this recruitment move could see Apple marketing the device as an everyday item rather than a smartphone accessory, which could push up demand and cause a stir in the market.
The watch-making industry does, however, remain cautious and plans to keep an eye on Apple. Jean-Claude Biver, head of watch brands at LVMH, certainly believes that the iWatch may have the potential to be a threat to the industry.