Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) and Qualcomm, Inc. (NASDAQ:QCOM) showcased smartwatches on Wednesday foraying into a much hyped “wearable” market that is expected to be worth $50 billion, says a report from Reuters.
Both companies launched wearable gadgets almost simultaneously in events held in Berlin and San Diego. However, analysts are skeptical about the price, which seems to be little over board at $300.
Samsung’s Galaxy Gear smartwatch
Samsung’s Galaxy Gear smartwatch will be much of an accessory to its smartphone Galaxy series. It has a small display screen with options like photos, hands free calls and instant messaging.
“I believe it will become a new fashion icon in the world,” J.K. Shin, Samsung’s co-chief executive and head of mobile business, said at its “Unpacked 2013 Episode 2” event.
Samsung smartwatch has a 1.63 inch display and is fitted with a basic camera, and can be linked to Samsung’s latest Galaxy Note 3 smartphone via wireless Bluetooth technology. The device will be capable of making calls, show messages, record videos and click photos when the phone is in a pocket or handbag.
The gadget is priced at $299 but lacks the much expected flexible or curved display. The camera is only 1.9 megapixels compared to 13 megapixel of Samsung Galaxy S4. Samsung is expecting that its new gadget will drive its android powered smartphones in a quest to maintain a dominant position against Apple.
Qualcomm’s “Toq” to have ‘Mirasol’ screen
On the other hand, Qualcomm “Toq” is capable of playing music and receiving phone calls and messages. Additionally, Qualcomm is the first watch with touch enabled ‘Mirasol’ color screen, which can be viewed in the bright sunlight, as well.
Qualcomm wearable gadget is not expected to be a hot seller rather will be seen much as a “reference” design or devices having the Mirasol screen expecting that the technology will be widely used in upcoming wearable of all types.
Wearable devices a massive potential
Wearable devices segment hold a significant potential. Technology giants like Apple and Google are also expected to come up with their own range of wearable devices, which according to the analysts, will be the next level of mobile communication explosion.
Using advances in voice technology, biometrics, communications, cloud storage and power consumption, smart watches and other wearable devices could be worth $50 billion by 2017, according to Credit Suisse.