Apple’s smart watch-making rivals are hoping that its Apple Watch will be a success, according to a Reuters report by Harro Ten Wolde. That’s because Apple could help to popularize the devices and thereby boost the sales of rivals devices, which haven’t managed to gain much traction in the market.
That has certainly proven true in the realm of mobile payment. Whereas similar platforms like the Google Wallet had been available for years, when Apply Pay launched it helped to bring mobile commerce and payment into the mainstream. Now, consumers are genuinely excited about it, and rivals are jumping into the ring with their own mobile payment platforms. It’s very possible that a similar phenomenon could occur with the Apple Watch, and some analysts are betting on it. Market research firm CCS Insight, for example, predicts that Apple will see 20 million sales of its new smartwatch this year, and that those sales will push a 150 percent growth in the wearable sector.
Rival companies have already started to release their own smartwatches, attempting to beat Apple to the punch, or perhaps just getting their products in position for the anticipated boom in interest. Samsung, for example, released its Gear S smartwatch last fall, while at this week’s Mobile World Congress LG launched its own luxury Watch Urbane smartwatch – a device available in silver or gold plating, and clearly aimed at the upper end of the market, where Apple tends to focus. As much as those companies are trying to compete against Apple, they are also very likely hoping to some extent for its success as the Apple Watch release approaches – it could be a win for everyone in the game.