Intel Corporation (NASDAQ:INTC) signaled its entry into the wearable computing space after providing an significant investment to Recon Instruments, the maker of the first consumers Heads-Up Display (HUD) for sports and other activity-specific environments.
Intel’s investment in Recon Instruments
The world’s largest chip-maker invested in Recon Instruments through Intel Capital, its global investment and M&A division. According to Intel Corporation (NASDAQ:INTC), the funding is intended to support the product development, marketing, and global expansion of Recon Instruments.
In addition to the funding, Intel Capital will also provide its manufacturing, operations, and technology expertise to Recon Instrument.
In a statement, Mike Bell, vice president and general manager of New Device Group of Intel Corporation (NASDAQ:INTC) said, “Wearable computing is a major, accelerating phenomenon that re-defines how we use and interact with information. In Recon Instruments, we see compelling technology and a solid strategy to capitalize on the wearable revolution. This is an area of significant focus for Intel Capital, and our investment in Recon Instruments is a key part of our approach to innovation in this emerging space.”
On the other hand, Recon Instruments CEO, Dan Eisenhardt said, “Intel Capital shares our vision for wearable technology, which enhances users’ performance and experience across a broad range of sports and outdoor activities.”
According to Eisenhardt, Recon Instruments concentrated in leading the Heads-Up Display (HUD) market over the past five years. He boasted that the company shipped more than 50,000 HUD units worldwide, and launched a successful campaign in the retail stores of Apple Inc. (NASDAQ:AAPL). The HUD of Recon Instrument is powered by an operating system with an open SDK, which allows developers to create a variety of apps for different sports, social, and contextual set up.
“Our products are engineered to deliver instant information, direct-to-eye and without distraction in the most demanding environments on Earth,” added Eisenhardt.
One of the main objectives of Brian Krzanich, CEO of Intel Corporation (NASDAQ:INTC) is to execute strategies to a faster shift into mobile business. The company’s move in investing in Recon Instrument allows the company to expand the use of its chip technology in wearable devices. Juniper analysts estimated that the wearable device market will ship 150 million units by 2018.
Wearable devices more popular after the Google Glass
Wearable devices are becoming more popular after Google Inc (NASDAQ:GOOG) introduced the Google Glass. Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) recently unveiled its smartwatch known as Galaxy Gear.
Recon Instruments is currently offering Snow Heads-Up Display that provides users with information including navigation, jump airtime, distance, and speed via GPS and series of sensors. It is also offering a Jet HUD for bicyclists.
