Apple Inc. (NASDAQ:AAPL) unveiled its brand new smartwatch few days back. But many analysts believed that it did not stir interest in public and consumers. Surveys conducted by many analysts showed that not many Americans are interested in buying an Apple Watch. But many other believed that Apple Inc. (NASDAQ:AAPL)’s smartwatch will be a game changer and will be a huge hit for the company in 2015.
Another huge debate going on is how will traditional watch industry get affected by Smartwatch introduction or will it be affected at all? Cowen Group Analyst, Oliver Chen analyzed the result of Apple Inc. (NASDAQ:AAPL)’s smartwatch survey put out to gage consumer interest and also discussed about what is the potential impact of it on traditional watches on CNBC.
“I think consumer care about sexiness. Traditional watches really will play a role in the future of smartwatches. We think smartwatches will be a $10 billion market over time, but traditional watches, wearables and the fashion component is really important. So I think traditional watches can play alongside an Apple watch as well,” Chen said.
It is common sense to understand the fact that Traditional watch is a completely different product when compared to a smartwatch like Apple Inc. (NASDAQ:AAPL)’s product. Apple Inc. (NASDAQ:AAPL)’s smartwatch can connect to internet of things in the future and control everything, whereas Traditional watch is completely different.
Chen thinks that traditional and luxury is about innovation. He feels that the traditional players will play a part in the wearable market and he said that the wearables will evolve as time progresses.
He mentioned that from their survey on Apple Inc. (NASDAQ:AAPL)’s smartwatch, consumers were worried about battery life and pricing. He feels that Apple Inc. (NASDAQ:AAPL) will solve these issues in version 2.0 and ahead. He thinks that the smartwatch market should get interesting.
Chen said that luxury goods like Apple Inc. (NASDAQ:AAPL)’s smartwatch might target emerging market going forward.
Can Apple Inc. (NASDAQ:AAPL) stock get a boost from its smartwatch as Chen pointed out and can Apple Inc. (NASDAQ:AAPL) become the first $1 trillion dollar company? Most of the hope rests on the shoulders of its smartwatch at the moment though.
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