The wearable technology movement is in full swing and we have seen a variety of interpretations on various wearable mobile devices. Two of the most prominent and news-grabbing products in the new industry is Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL)’s smart glasses, called Google Glass and Apple Inc. (NASDAQ:AAPL)’s smartwatch, called Apple Watch. Google Glass is still a relatively developing technology and product that is not widely available to public, and has faced some backlash.
Apple Watch is coming in 2015 and is targeting the smartwatch movement. Samsung Electronics Co. Ltd. (LON:BC94) (KRX:0059935) is another large technology company that has waded into the wearable tech/smartwatch movement, with its lineup of smartwatches and bracelets. Aside from the tech behemoths, there are a variety of other wearable technology options such as watches and bracelets that can tell health specifications and aid in exercise activities, play apps, calls, etc. While there are numerous options and new products on the way, there is a lack of gender focused wearable technology, which Intel Corporation (NASDAQ:INTC) hopes to capitalize on just in time for the holiday shopping season.
Intel expanding in wearable technology to look for earnings growth
Intel is planning on expanding outside of its usual chip making business to look for earnings growth and it believes that it can capitalize in the wearable technology market by targeting a specific niche, women. Intel says its smart bracelet will be available in early December and it will be called MICA (My Intelligent Communications Accessory). However, the smart bracelet will only be available through two retailers: Opening Ceremony and Barney’s New York. The new wearable technology will start at $495. The new bracelet will allow users to login and peruse various apps such as Facebook, Google Calendar, Yelp, phone call ability and texting ability using 3G networking. The good news for potential buyers is that the $495 asking price includes the two year AT&T Inc. (NYSE:T) contract to allow the 3G capabilities to work. Additionally, the battery life on Intel’s MICA bracelet is said to last up to two days and charges via USB, with the ability to locate the bracelet through internet connection if the user happens to misplace the device.
Overall, it is an interesting concept and certainly an overlooked element to the wearable technology industry. Most options out there today seem to take on a more masculine look or are just simply too bulky or unattractive to women. Intel saw this disconnect and introduced MICA to create a more sleek and fashionable option for women to get into wearable technology. It is certainly an intelligent idea to a relatively new concept in wearables. However, if the wearable tech revolution fails to pick up steam, could Intel be in an even more difficult position to sell its product and limit potential damage to earnings? If wearables take off, will Intel’s smaller niche focus outperform larger and more neutral options? Only time will tell.