Swatch Vs iWatch: At this point, it is safe to say that millions upon millions of people are wondering if Apple Inc. (NASDAQ:AAPL) is going to release an iWatch to the public in 2013. This would be a new product from the tech giant, and one that is sure to make waves throughout the industry.
Apple Inc. (NASDAQ:AAPL) is actually the smart money’s second favorite publicly traded company but hedge funds have started dumping Apple in favor of a surprising financial stock (see which stock hedge funds are buying like crazy).
With all this in mind, there are some people who are not nearly as impressed at the thought of Apple joining the space. There are some who feel that an iWatch is not going to be anything special. Among those people is Swatch CEO Nick Hayek.
Bloomberg has been following this story closely, and has a quote from Hayek taken during a press conference on annual results in Grenchen, Switzerland:
“Personally, I don’t believe it’s the next revolution. Replacing an iPhone with an interactive terminal on your wrist is difficult. You can’t have an immense display.”
Whether or not Hayek is correct is yet to be seen. That being said, Hayek does have quite a bit of experience in the industry. He definitely knows a thing or two about what the industry is looking for and how to achieve sustainable success.
Hayek went on to add that there are other reasons, besides size, that consumers may not be interested in an iWatch. For example, he talks about the fact that people typically buy a watch for style and would rather change from time to time.
At this time, Apple Inc. (NASDAQ:AAPL) is thought to have at least 100 designers working on an iWatch device that could reportedly handle many of the tasks of the current generation iPhone and iPad.
Swatch is one of the major players in the watch industry, owning both Omega and Tissot. In fact, the company tried to “sell a watch that served as a mobile phone early last decade.”
Do you agree with what Hayek has to say, or do you believe Apple Inc. (NASDAQ:AAPL) is onto something? Share your thoughts in the comment section below.
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DISCLOSURE: I have no positions in any stock mentioned.
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