Courtesy of Benzinga.
What does it take for Apple (NASDAQ: AAPL) to launch a product trend in the tech world?
In the past, Apple had to physically release an item before other companies would follow suit. While the iPod was not the first MP3 player, it changed the landscape of mobile music.
Similarly, the iPhone introduced consumers to an entirely different kind of smartphone. More recently Apple popularized the tablet concept by building a device that was vastly superior to its extinct competitors.
While it is not yet known which product Apple will release next, many bloggers have speculated that it will be a high-tech wristwatch. Numerous reports have attempted to confirm the device’s existence, but without the official announcement from Apple, analysts will continue to speculate.
In the meantime, Apple’s competitors are wasting no time in producing their own version of an iWatch.
Lee Young Hee, executive VP of Samsung Mobile, told Bloomberg that the company is developing a new watch.
“We’ve been preparing the watch product for so long,” said Hee. “We are working very hard to get ready for it. We are preparing products for the future, and the watch is definitely one of them.”
Samsung is not the only tech company that is investing in wearable computing.
According to The Korea Times, LG is also building a smartwatch. Meanwhile, the Financial Times reported yesterday that Google (NASDAQ: GOOG) is developing a watch as well.
The latter should not come as a great surprise. After all, Google has spent the last year or two developing Project Glass, a wearable computer that delivers an endless array of information to a special pair of glasses.
What is surprising is that all of these tech companies seem to be convinced that watches — the tiny, time-telling devices of yesteryear — will be the next big thing in consumer electronics.
It is wholly possible that Samsung, LG and Google were developing smartwatches long before they were aware that Apple may be doing the same. Then, after word leaked that Apple might be developing an iWatch, Samsung decided to come forward, paving the way for others to do the same.
Samsung is the only tech giant to confirm that it is developing a new watch, however. The company has yet to divulge any specific details, so it is impossible to say what the watch may do or how it may function.
Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at 248-636-1322 or louis@benzingapro.com. Follow him @LouisBedigianBZ
