Apple Inc. (AAPL), Google Inc (GOOG): The Future of Wearable Tech

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The functionality of the current prototype Google Glass includes taking still photos and recording 720p video using the embedded camera, interaction with Google Inc (NASDAQ:GOOG) Now (Siri-like personal assistant program) and navigating using Google Maps with integrated GPS.

Similar to the rumored specifications of the unconfirmed Apple Inc. (NASDAQ:AAPL) iWatch, Google Glasses will lack any cellular connectivity of its own. The smartglasses will require a Bluetooth connection to a separate device to provide the internet connected functionality. This makes sense, considering the battery size and weight restrictions of a device you wear on your face. At $1,500 a pop for the developer version of the Google Glass, though, that is seemingly a large price tag a supplemental device. The final consumer version, however, could potentially cost significantly less by the time of its estimated release in Q4 2013.

The Stylish Alternative Google is not the only company developing smartglasses. When glasses are involved, there is no possible way you could exclude the Milan-based Luxottica Group SpA (ADR) (NYSE:LUX). The world’s largest eyewear company, Luxottica has a near monopoly on anything eyewear related. Although not normally known for its contributions to the tech world, this sunglass and prescription glasses manufacturer, retailer, and vision benefits company has been developing technology for smartglasses display optics for nearly 15 years.

Luxottica is said to have about 600 patents in this area and has many option as to how to make use of their technology and patents. Luxottica could decide to (1) license their patents to a more tech-centric company like Google Inc (NASDAQ:GOOG), (2) create their own smartglasses using one of their many in-house brands such as Ray-Ban or Oakley, or (3) possibly partner with someone like Google to create a stylish pair of Google Inc (NASDAQ:GOOG) Glass smartglasses. With the world’s most popular brands, over 7,000 retail worldwide store locations (LensCrafters, Pearle Vision, Sunglass Hut and a dozen other retail banners) and hundreds of patents, Luxottica could be a sneaky dark-horse in the emerging world of wearable tech.

Foolish Bottom Line Wearable tech has the potential to change the way we interact in our internet-connected world. While the immediate future of wearable tech is smartwatches and smartglasses, the space a decade from now could involve seemingly science fiction-like clothing with touchscreens sown directly into the fabric. This is truly an exciting time for wearable tech and the companies involved in this emerging product category.

The article The Future of Wearable Tech originally appeared on Fool.com and is written by Matthew Luke.

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