Apple iWatch Release Date News: Facing Apple 'Tsunami,' TAG Heuer Announces Plans for Smartwatch
News about the Apple Watch is dominating the wearable tech market this year even though it hasn't been released yet.
With sales of the watch expected to reach several million units next year, other companies including the luxury watch maker TAG Heuer have started taking the Apple Watch seriously and have announced plans to compete.
TAG Heuer and other Swiss watchmakers were dismissive when Apple announced its plans to produce its own watch earlier this year. They said it would at best be a "fad" that would die down as soon as it is launched.
However, with the buzz around the Apple Watch growing, the venerable Swiss brands like TAG Heuer have decided to create their own smartwatches.
While this news is not surprising, it does hold promise for any luxury device that TAG Heuer manages to churn out, as the brand will fall within the umbrella of LVMH, the French multinational luxury goods conglomerate, headquartered in Paris, which is known for its reliable and high quality watches.
LVMH chief Jean-Claude Biver was among the first of many industry luminaries who dismissed the announcement of the Apple Watch, saying it was "too feminine." At that time, he also stated that the watch appeared to have been "designed by a student in their first trimester." He predicted that it would become outdated while "luxury watches have something timeless."
Later, when TAG Heuer announced its plans to create its own smartwatch, Biver disclosed that "the smartwatch project started around four months ago and partnerships and acquisitions could take place" to ensure that the company can produce a luxury timepiece that can compete with the Apple Watch.
Guy Semon, who was recently appointed general manager of the company, hinted to Reuters that TAG Heuer is considering many partners in its smartwatch project, including Google and Intel.
"Smartwatches are a major challenge to the Swiss watchmaking industry and we cannot afford to ignore the tsunami that is approaching," Semon said.
The Apple Watch is scheduled for release sometime in early 2015 and is expected to become the most successful smartwatch to date due to the millions of loyal and dedicated Apple fans.
