Apple, LG and Samsung are in a frenzied race to own the wrist - the next "sexy" frontier - with each trying to pip each other to the post to get new product announcements out as quickly as possible.
Yet, as the war to own the consumer mounts, the latest mania in wearables has not yet got to the point where it will succeed as a replacement to the smartphone. This battle to be first in new gadgets that can be worn extends into every possible device, because manufacturers have a fear of missing out, notes tech blogger and Swift Consulting CEO Liron Segev.
That the smartwatch race is heating up can be seen in the slew of news that broke yesterday: Apple is planning on launching a new wearable on 9 September - when news of its new handsets is also expected to be revealed.
Growth race
News of a rumoured smartwatch by Re/code apparently sent other manufacturers into a spin, notes Business Insider. It says, after news of the iWatch's arrival broke, LG quickly sent out press releases detailing full specifications of the LG G Watch R, which features a circular screen, gyroscope, barometer, and heart rate monitor, and will run on Google's new Android Wear software.
That prompted Samsung into action, with its announcement being brought forward ahead of the expected reveal at the IFA trade show in Berlin next week, the site notes. This event, says Segev, should lead to several announcements being made around new mobile devices.
Yesterday, the South Korean company unveiled what it claims is the smartwatch capable of making and receiving calls without a mobile phone nearby; its latest effort to find a new growth driver, according to Reuters.
New features
Samsung already owns the smartphone market, with 30.2% of the sector as of the end of the first quarter, according to the IDC. Apple - in second place - has 15.5%, while LG owns 4.4%.
Reuters notes Samsung's new smartwatch, called the Gear S, differs from its predecessors with a bigger 2-inch (5cm) curved display, and offers features like WiFi connectivity, pedestrian navigation and a built-in GPS. This device will run on Samsung's nascent Tizen operating system.
Samsung said the Gear S will start selling from October, but did not give details on pricing or where it will be available. LG said its G Watch R will launch in key markets in the fourth quarter, also without indicating a price.
FOMO
Segev explains this frenzy is because of the fear of missing out that is plaguing device makers, who all want to be in on the next big thing - regardless of whether it succeeds or not. He notes everyone is currently gunning for the wrist, because it is the next "sexy" frontier. "I'm not saying they're going to win it, but they've got to be in it."
Once consumers have pledged allegiance to one brand, they are not likely to change to a competitor, adds Segev. He notes the circular LG will do well because it looks like a real watch, and seems high-end, while Samsung has cracked the standalone concept.
However, Segev questions whether people will ditch their pocket devices for a wearable that does not have the same amount of functionality, noting its current form factor is only likely to find a niche following. Yet, gadget makers are still "playing on all fronts to be the next it company", he adds.
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