Titan To Partner With HP For Smartwatches
Watch maker Titan has partnered with HP to launch smartwatches in India and other selected international markets this year.”The new relationship between HP Inc. and Titan combine innovative materials, design and custom technology to deliver products that are responsive, and not intrusive,” Titan said in a press statement.
India is likely to become a big market for wearable technologies, which includes smartwatches and digital fitness trackers, with consumers showing an increased interest in these latest smart connected devices.
Globally, the wearable devices market has maintained its upward trajectory since the beginning of 2015 as new vendors, including Apple, prepared to enter the market. IDC estimates that 72.1 million wearable devices will be shipped in 2015, up 173.3 per cent from the 26.4 million units shipped in 2014. Shipment volumes are expected to experience a compound annual growth rate of 42.6 per cent over the five-year forecast period, reaching 155.7 million units shipped in 2019.
“The demand for basic wearables, those that do not run third party apps, has been absolutely astounding. Vendors such as Fitbit and Xiaomi have helped propel the market with their sub-$100 bands, and we expect this momentum to continue throughout 2015,” said Jitesh Ubrani, senior research analyst at IDC.
With the latest move, Titan joins a handful of traditional watch makers such as Tag Heuer, that are venturing into smartwatches, a field dominated by computer and mobile device firms like Apple, Motorola, Sony and Samsung. Tag Heuer, a Swiss firm, has tied up with Google and Intel to design its ‘Tag Heuer Connected’, which is priced at $1,500 to take on Apple Watch.
“This category of smart watches is going to change the way people view the art of time keeping and beyond. It was but natural for an innovative company like Titan to partner with HP Inc for the next step in our journey as a lifestyle company,” said S Ravi Kant, chief executive, Watches and Accessories Division, Titan Company.“It is indeed a milestone for two of the world’s leading companies to come together and create a unique lifestyle offering for people not only in India but across the world,” he added.Tata Group’s technology team has been working with Titan for over a year to build wearable smart watches and smart bands and testing the products with factory floor workers. According to HP executives, some smart accessories on the market force consumers to sacrifice form for function and the products jointly with Titan would be different.
“Our legacy of innovation is helping fashion-forward brands infuse technology into their designs to give consumers the stylish timepieces they want but that are more connected and responsive to the way they live today,” said Sridhar Solur, general manager, wearables and smart platforms at HP Inc in the statement.
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