Apple Inc. (AAPL)’s Apple Watch Challenger – Timex Smartwatch
Apple Inc. (NASDAQ:AAPL) will probably not have very smooth sailing in the watch business, with its Apple Watch device. The company is set to face competition from reputed watch brand Timex, which has also launched a high-end smartwatch. To beat Apple Watch, the Timex smartwatch has been priced competitively and also comes with attractive features, including GPS and Bluetooth.
The iconic American watch maker, Timex, hopes to try and win market share against Apple’s Apple Watch device, which a number of analysts have cited could turn the smartwatch market on its head. Timex is expected to rely on its iconic brand to take on Apple in the smartwatch market contest. The company has been in the watch making business longer and boasts an extensive network in the market. The $499.95 price tag on the Timex smartwatch could also help it woo customers away from Apple.
Apple Watch pricing
In the latest update, Apple Inc. (NASDAQ:AAPL) disclosed prices for various Apple Watch versions. The basic and cheapest Apple Watch will cost $350 and the device is known as Apple Watch Sport. A larger Apple Watch Sport will cost $400. The advanced version of Apple Watch will cost between $550 and $1,040 for a smaller one and between $600 and $1,100 for a larger one. There is also Apple Watch gold edition that starts at $10,000.
Beyond competitive pricing, Timex also offers its smartwatch device with one-year free wireless service from AT&T Inc. (NYSE:T). Additionally, the Timex smartwatch supports app downloads from a number of app distributors such as Google Inc (NASDAQ:GOOGL)’s Google Play and Apple’s App Store.
Tyranny of resources
Perhaps the greatest advantage that Apple Inc. (NASDAQ:AAPL) has over rival Timex in the smartwatch market is resources. Apple’s research development is not only well-funded, but also boasts high-end engineers.
The fact that Apple has emerged as a trusted brand in the consumer electronics market could also be a greater advantage for the company as it enters the smartwatch business. The ability to tie Apple Watch with iPhone is also another advantage for Apple, given the large iPhone population.
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