Tag
Heuer, French luxury group LVMH’s biggest watch maker, said it will
launch a smartwatch later this year using Google Inc’s Android operating
system in a venture with Intel Corp to compete head-on with the Apple
Watch.
Tag
Heuer Chief Executive Jean-Claude Biver declined to give any details
about pricing, functionality or design, but said on Thursday that it
aimed to launch what would be the first Android luxury smartwatch in the
fourth quarter.
The
Apple Watch is due to go on sale on April 24 and will range in price
from $350 to $17,000 for an 18-karat gold model. It is the company’s
first major new product in five years and consumer demand for the device
is being closely watched by competitors and investors.
The
device needs an Apple iPhone to work fully, and analysts say the most
likely pool of initial buyers will already have an Apple smartphone in
their pockets.
“We
believe wearable technology will take off,” Michael Bell, vice
president of Intel’s New Devices unit, said at a news conference with
Tag Heuer at the Baselworld watch and jewellery fair.
Intel
struck partnerships with several consumer goods companies last year to
develop smart wearable products, including eyewear brand Oakley, owned
by Luxottica, watchmaker Fossil, and U.S. fashion brand Opening
Ceremony.
“Tag
Heuer’s decision to partner with technology companies to deliver a
smartwatch … will likely be the first of many similar deals,” Ben Wood,
chief of research at CCS Insight, said.
“With
Apple Watch hitting the market it’s no longer viable for Swiss
watchmakers to bury their heads in the sand. Now Tag Heuer has signalled
its intention to enter the smartwatch market we are certain others will
follow.”
Gucci
said on Thursday that it would develop a smartband with i.am+ whose
functions would include phone calls, text messages, emails and music.
The unit of French luxury group Kering gave no details of pricing or
launch timing.
Some luxury executives remained sceptical about smartwatches, however.
Marc
Hayek, who heads Swatch Group watch brands Breguet, Jaquet Droz and
Blancpain, joined the chorus of luxury executives alongside Hermes and
Patek Philippe who said they had no plans to launch a smartwatch.
“The Apple Watch is not a real watch but a consumer electronic,” he told Reuters in Basel on Thursday.
Hayek
forecast his three brands would enjoy a similar year in terms of sales
growth to 2014, although trading in Hong Kong, one of his biggest
markets, remained difficult.
Posted by : Gizmeon
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