Apple Inc. (NASDAQ:AAPL) is looking to patent its iWatch at a time when major tech leaders such as Samsung and Sony Corporation (ADR) (NYSE:SNE) seek to dominate the smartwatch market. But what does the race for smartwatch supremacy mean for these three firms? A new product launch can do a lot to not only increase the appeal of the product, but also ramp up the appeal of the company itself.
Apple’s smartwatch is likely to arrive soon
Filing for the name patent indicates that Apple Inc. (NASDAQ:AAPL) is nearly ready to enter the smartwatch market, and that is something Sony Corporation (ADR) (NYSE:SNE) needs to watch out for. According to reports, the gadget is rumored to connect to the iPhone to receive messages and other content such as driving directions. An entry into the smartwatch market could be exactly what shareholders are waiting for, as they haven’t seen a major Apple Inc. (NASDAQ:AAPL) hardware release since the iPad.
When Apple Inc. (NASDAQ:AAPL) enters a market, it’s clear the firm intends to have the highest sales out of all the firms competing for dominance. A Bloomberg report states that Apple has 100 designers developing the smartwatch, so look for big things from this company. I expect plenty of growth from Apple Inc. (NASDAQ:AAPL) in regard to sales of all its products. The firm currently receives only 8% of its business in China, and expansion into emerging markets is an area that the company intends to focus on in the years ahead.
Sony already released a smartwatch
On July 1, Sony Corporation (ADR) (NYSE:SNE) announced the addition of its water-resistant SmartWatch 2 to the market. The device is a follow-up to the Sony SmartWatch that was released last year. The new watch is slated to be available throughout the world in September.
“Competitors are only now launching first-generation devices, while we are already launching a third generation device with all the insight gained from over half a million customers combined with Sony’s wealth of technology expertise… ” Stefan Persson, Sony’s head of Companion products, told Design & Trend. He added that analysts predict that 41 million smartwatches will be sold by 2016. The company has already tallied more than one million downloads on the Sony SmartWatch. With that many existing customers, there is already a user base for the firm’s new smartwatch products; this provides it with a foundation as the firm looks to attract additions for its loyal customer base. Sony looks poised be a leader in this field, much like it is in the gaming console arena with its PlayStation brand. So far, the company has an early lead in smartwatch market.
Samsung’s in the game
As the world’s largest manufacturer of smartphones, Samsung could also make a major dent in the smartwatch market. In March, the firm stated that it is working on developing a wristwatch that is similar to smartphones. The company seems to always be at least second in line, however, and adapts many of its ideas from Apple Inc. (NASDAQ:AAPL) releases — take the smartphone and the tablet, for example.