Apple is developing a watch that will combine features of tech accessories and fitness wearables.
The fitness wearables market is growing steadily more competitive. Fitbit, owned by Alphabet, offers wearables that track activity, body temperature, and more. Garmin and Casio currently offer rugged smart watches. Facebook is working on a smartwatch that will track biometrics.
Above Avalon analyst Neil Cybart calculated that total Apple Watch sales surpassed 100 million in December. The original watch was released in 2015.
- Apple’s current models monitor heart rate, electrocardiogram signals (electric signals from the heart), blood oxygen levels, and movement activity.
- New iterations of its signature wearable, planned for 2022, will track body temperature and have improved swim tracking.
- The company is developing non-invasive blood glucose monitoring technology, but that is believed to be a few years away.
Apple also plans to release a more rugged version of the watch in 2022 that will be able to handle more impact than the current version.
Apple CEO Tim Cook made the bold claim in February that Apple’s greatest contribution will eventually be in health and wellness.
As of March 27, Apple held $337.2 billion in total assets including $38.5 billion in cash or cash equivalents. Its wearables, home, and accessories category brought in $20.8 billion during the prior six months.