Apple has recently formed a team of about 100 people to develop smart watches and is expected to launch interviews this fall, according to people familiar with the matter. In addition to looking at the time, the watch may also serve as an iPhone accessory, so that users can answer and make calls or view maps without taking out the phone from their pocket. Information from the U.S. patent and Trademark Office shows that Apple has applied for at least 79 patents containing the word 'wrist' since 2001, one of which is equipped with a flexible screen and powered by a kinetic energy device.
So will Apple, which is about to enter the smart watch market, face challenges? The answer is yes. Pebble technology, a Palo Alto based start-up, will launch a $150 smart watch and has received tens of thousands of orders. The smart watch can be wirelessly connected to a smartphone to display incoming calls or preview emails and text messages. Pebble technology's watch is compatible with apple and Google platforms. Startups Martian watches and meta watch are selling similar products, while smartfitty, another, also plans to launch a smart watch.
Finally, traditional watch makers seem to be less interested in developing their own smart watches. Kosta kartsotis, fossil's CEO, said in a conference call in February 2013 that although the company had considered making smart watches, it finally decided that the real money maker was traditional watches.