Apple Inc. (NASDAQ:AAPL) seems to be getting further behind in the wearables market, as both Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) and LG Electronics Inc (KRX:066570) have unveiled new smart watches. Meanwhile Apple has yet to unveil the rumored iWatch—or even confirm that it exists.
Samsung, LG go more fashionable
The BBC reports that the new smart watches from Samsung and LG both look like attempts to great a device that is more fashionable than their previous models. The new Samsung Gear S sports a curved screen, which is something many have suggested that Apple should do with the iWatch. The G Watch R from LG looks a bit more like a classic watch.
Carlson Capital's Black Diamond Arbitrage fund is up 5.77% for the first eight months of the year, including a 1.72% return for August. Last year, the fund returned 2.39% for the whole year. Q3 2021 hedge fund letters, conferences and more The fund consists of merger arbitrage mainly consisting of signed or "rate of return" Read More
It’s expected that Apple will unveil the iWatch at an event on Sept. 9, along with the iPhone 6. However, there still haven’t been any invitations sent out for an event on that date. Also analyst Benedict Evans suggests that since we’ve seen no leaks of the iWatch’s design, production on it may not even have begun yet.
Will the iWatch beat Samsung?
Samsung showed off its very first smart watch at IFA last year. Since then the company has launched five additional watches, and this year’s IFA is still coming up. Analysts say all of those watches suggest that Samsung is angling to get far ahead of Apple before the iWatch is released. The fact that the newest model has a curved screen also shows that Samsung is attempting to do something different.
The new Gear S uses the Tizen operating system instead of Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG)’s Android operating system. In addition, the smart watch can also work as a standalone device—unlike other smart watches—because it has a place for a SIM card. It is the first smart watch to not need to be paired with another device in order to get information.
How big of a market?
Currently, the smart watch market is a small one, and some analysts suggest it is because the devices that are currently on the market just don’t look that great. After all, watches are seen as fist being a fashion statement. Apple has been known for making fashionable devices, so the company may be banking on the iWatch’s design as being enough to get it ahead of competitors that already have smart watches on the market.