The ‘new generation smartwatches’ made by the duo will be sold in United States, United Kingdom and Asian markets
Chinese wearable maker Huami announced that it is collaborating with watchmaker Timex to build a “new generation” of smartwatches. The ‘new generation smartwatches’ made by the duo will be sold in United States, United Kingdom and Asian markets.
A press release issued by Huami said, “The two will develop a new generation of smartwatches that deliver on performance, style, craftsmanship and price for both US/UK and Asian markets.”
The smart wearables market is one of the fastest growing ones in the world at the moment. Navkendar Singh, associate research director, client devices and IPDS, IDC India, in a report had said, “The overall wearable market is expected to continue its double-digit growth in 2019. The growth of basic wearables will slow down as users look at upgrading to smarter wearable products. However, it will remain the dominant category in India for the next few years. We will see a few more smartwatches with cellular connectivity and also vendors will be looking to explore some of the new categories to provide the solutions around healthcare and lifestyle management.”
Smart wearable devices industry expected to reach $ 42 billion in 2019
A forecast report by Gartner said that the worldwide shipments of wearable devices will reach 225 million in 2019. The “Forecast: Wearable Electronic Devices, Worldwide, 2018” report by Gartner expects shipments of 74 million smartwatches in 2019, a figure that can make smartwatches the top category in all wearable device forms. Gartner expects that the smartwatch shipments in 2022 will reach a staggering 115 million.
Alan Antin, senior director at Gartner, had said, “We think that fashion and traditional watch brands are likely to account for up to 20 percent of unit shipments by 2022. Traditional watch brands such as Fossil and Casio will gain market share by offering more style and choice in their portfolio than the technology brands.”
Huami’s technology and Timex’s watchmaking skills
The new collaboration will give Huami and Timex an opportunity to blend former’s AI with latter’s craftsmanship in watchmaking abilities. Timex has earlier teased the IQ+ move. Teaming up with Huami, which is more popular as a maker of Xiaomi and Amazfit range of smart wearables, will give Timex an opportunity to tap the huge smartwatch segment.
Huami, earlier this year, had also announced a new “AI-powered wearable chipset” that includes a cardiac biometric engine, ECG, ECG Pro and a Heart Rhythm Abnormality engine. Working together might help Huami and Timex to compete with larger companies like Apple.