Swiss Timepiece Maker TAG Heuer Enters Luxury Smartwatch Market

In a rendezvous with a Swiss newspaper Neue Zürcher Zeitung, Jean-Claude Biver, the head of watchmaking at LVMH, the parent company of TAG Heuer said the company will release a new smartwatch in May 2017. Turns out, the Swiss timepiece manufacturer has unveiled the $1,500 TAG Heuer Connected, its first ever high-end smartwatch.

Over the past 14 months, TAG Heuer saw strong sales for the expensive wrist piece, selling 56,000 units exceeding its initial goal of 20,000 units. All said and done, Biver still considers smartwatch technology to be in the “Stone Age,” with incremental future potential. The 157-year-old Swiss watchmaker aims to see around 150,000 units of the new version. It will tap into Mainland China and Europe to recover from the slowdown from last year.

Modular $1,500 Smartwatch

Jerry Bautista, vice president of New Technology Group at Intel says TAG Heuer Connected is a luxury Android Wear module. TAG Heuer worked with Intel to build the watch like any other luxury watch. The smartwatch is modular, so one can customize its body parts before they make the purchase. One can pick from different colors, “modules, bracelets, horns and buckles.” TAG will also let you swap the module for mechanical or trade the entire kit for a Heuer 02T Tourbillon Chronograph.

TAG Heuer Connected Modular Watchfaces

Dubbed the Modular 45, it comes in 56 versions, available in titanium, rose gold, ceramic and diamonds. One can get a module that will have a traditional face instead of the smartwatch one for an additional $1,650. The smartwatch features a larger screen and is powered by an Intel Atom Z34XX processor. It operates either on Android or iOS systems. Additionally, it has a memory of 4 gigabytes and a battery that lasts more than 24 hours. It also comes with Wi-Fi and GPS and can make mobile payments.

TAG Connected is introduced against Google Android Wear 2.0 which was unveiled last week. It is also introduced against the high-end Apple Watch.

Global Smartwatch Market

Luxury smartwatches are touted as the next wave of digital innovation. The reality is much different though; smartwatches pale in comparison to notable brands like Rolex and Audemars Piguet. The limited functionality has reduced the smartwatch to a digital watch. For example, one needs to purchase an accompanying smartphone of the same brand to make phone calls.

 Most smartwatches lack craftsmanship of the traditional timepieces. While Apple and Samsung have dominated the smartwatch market, the sector has diminished over the last fifteen months. A few smartwatch manufacturers like Apple, Samsung, Pebble and Garmin have remained lucrative players. The rest, are either going out of business or pivoting their business models.

Anna Domanska
Anna Domanska is an Industry Leaders Magazine author possessing wide-range of knowledge for Business News. She is an avid reader and writer of Business and CEO Magazines and a rigorous follower of Business Leaders.

Recent Posts

Elon Musk’s Starlink satellite internet set to cover the globe soon

Elon Musk’s Starlink satellite internet set to cover the globe soon

Starlink, the satellite internet unit of Elon Musk’s SpaceX, will most likely be able to provide global coverage by September, according to the company’s president Gwynne S
12 hours ago
At the next Krispy Kreme IPO, the donut maker aims to raise nearly $4 billion

At the next Krispy Kreme IPO, the donut maker aims to raise nearly $4 billion

Krispy Kreme, the popular donut chain, aims raise roughly $4 billion as it makes one of the biggest IPO debuts at the NYSE.
13 hours ago
Panasonic hopes Blue Yonder acquisition will improve its software woes

Panasonic hopes Blue Yonder acquisition will improve its software woes

Most Japanese major companies, which at one time were leaders in consumer electronics, are struggling to find their feet in a world that has moved to digital software. Electronics
1 day ago
Ikea and Rockefeller Foundations to raise $10 billion for renewable energy projects in poor countries

Ikea and Rockefeller Foundations to raise $10 billion for renewable energy projects in poor countries

The Ikea and Rockefeller foundations are jointly launching a $10 billion fund to promote small-scale renewable power projects in developing nations. Both
2 days ago
EC initiates another probe into Google’s adtech practices

EC initiates another probe into Google’s adtech practices

EU antitrust regulators are planning a formal investigation into Google’s digital advertising practices by the end of this year. Google is already facing unprecedented regulatory
3 days ago
Some Microsoft employees stayed at data centers during Pandemic to keep all systems going

Some Microsoft employees stayed at data centers during Pandemic to keep all systems going

The Covid-19 pandemic ravaging the world for more than a year has forced companies and organizations to find viable solutions to keep the business going. Most found a solution in w
3 days ago