Rumors were that the World’s second largest information technology firm Apple Inc. (NASDAQ:AAPL) is working on the most expensive smartwatch ever developed. The rumors now appear to be true after confirmation by Apple Inc’s CEO Tim Cook. The Cupertino based firm plans to manufacture the watch in next spring but is keeping the details in complete confidentiality. The Gold plating watch is designed to target the high-end market and could cost up to $5000. According to iGen.fr the company also plans to use stainless steel that could cost up to $500.
On the other hand luxury watch makers have expressed their complete confidence in this project. A Harvard business school professor Ryan Raffaeli says that apple offers unimaginable functionality that are technologically far more accurate than its competitors. He believes that luxury watch makers should embrace Apple’s watch without any hesitation. There is also a strong possibility that the luxury high-end watch makers might be thankful to apple for nurturing the high-end luxury watch business.
Adagjani owner Traxnyc says that he will personally sell the watch in his high end jewelry store. However Apple also has some serious competition from Rolex and Swiss watch industry. According to unknown sources Rolex wants to maintain complete control over the market and doesn’t want to dilute the brand with high volume production. Rolex is against market mass.
The watch has a health and fitness design like all other smartwatches. The company claims that the watch will have all the functions of a smartphone. According to experts Apple Inc is unhappy with the battery life of the watch. The battery will possibly have to be charged once daily for the watch to run all day.
The gold smartwatch also runs on the same principle of working as that of an iPhone. According to Tim Cook the CEO the company will release a three watch collection with different prices. It is believed that the watches will hit the market next year in February. The pricing of Apple’s watches is something that many individuals see as too extravagant speculative. According to Apple the product will be launched in 2015; however the exact date is still a mystery.
At the moment the only main concern of Apple regarding its Gold watch is to increase its battery life. The problem seems to be as serious as a challenge and can give its opponents an edge over it. According to some experts the 5k watch is just the first step by Apple into the high end smartwatch market which will further clear its path to start manufacturing 18k watches in the near future. Apparently we don’t know much about these 5k and upcoming 18k watches. The arising question for Apple Inc.’s (NASDAQ:AAPL) strategy department is that which niche of consumers will it target if the watch does not do well in the market and fails to find its customer base. Moreover the company will have to figure out a solution to its battery problem soon otherwise there is a lot of competition in the market that is ready to pounce on every Apple misstep.
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