Home Technology Intel Corporation Bets Big On Wearables After Losing In Mobile

Intel Corporation Bets Big On Wearables After Losing In Mobile

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Intel Corporation (NASDAQ:INTC) lagged peers in mobile phones and tablets, so now it is making efforts to grab share in the wearable market, which is considered to be the next big thing, says a report from The Verge. The chipmaker has entered into a number of agreements to build simpler and easier-to-use connected devices.

Intel invests in Internet of Things

Apart from making chips and sensors, Intel has data analytics that will allow device makers to build more gadgets, and the chip maker wants companies to use both of its technologies. Intel has expected such business in the past as well, but this time it has made things easier for the companies to make it happen.

Intel is taking the Internet of Things seriously and has already designed an exclusive chip for tiny gadgets in addition to forming various wearables partnerships. Some of the wearables by Intel are SMS Audio’s BioSport In-Ear headphones and Opening Ceremony’s MICA bracelet, and recently Intel entered into a deal with Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) to design chips for the next version of Google Glass. The chip maker purchased Basis Science, which makes Basis Fitness, back in March as well.

Such efforts led Intel to form a separate business unit last year called the “New Device” division under the supervision of former Apple Inc. (NASDAQ:AAPL) and Palm executive Mike Bell. According to Bell, a major task for him and other companies will be to identify ways in which all these devices can be integrated smoothly with each other. By 2020, Intel is expecting 50 billion connected devices, including wearables, medical and retail sales devices.

Not just consumer devices

Apart from focusing on consumer wearables, Intel is also in the process of developing imaging devices, windmills, and tools used in factories. Intel is also hoping that its platform will be used in cars, gaming consoles, and home automation systems. As per the claims made the company, it is already capable of enhancing smart parking systems with a partnership with Siemens, point of sales systems with NCR, and energy efficiency monitoring with projects in hotels and rental properties.

Most of Intel’s projects will materialize in the future, like smaller, faster, low-power chips. Intel is focusing on the future even though it has been left behind in phones and tablets. The company wants to grab at least 50% of total devices if there are really going to be 50 billion of these devices in the span of the next 10 years.

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Aman Jain
Personal Finance Writer

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