HTC Corp. is up with plans to develop a smartwatch with camera powered by Android sometime near the end of 2014, new reports claims.
The report comes just a day after Peter Chou, CEO HTC, revealed to the Financial Times saying that the smartwatch technology market is a “a critical segment for us” but the company is yet to finalize the right time to enter the growing market. Details regarding smartwatch’s pricing, functionality and sales strategy have not yet been decided claims Bloomberg in its report.
According to a study by Juniper Research firm released last week, the wearable technology market, including eyeglasses and watches, will grow rapidly in the years to come with global spending to reach $19 billion mark by 2018 as compared to spending of $1.4 billion in 2013.
HTC’s leading rival companies including Samsung and Sony have already jumped the wearable technology bandwagon. Samsung recently launched its Galaxy Gear smartwatch equipped with camera this September, while Sony unveiled its SmartWatch 2. FitBit Force and Pebble Watch are some of the existing smartwatches in the market.
Reports suggest that Apple too is working on its watch-like device and has even applied for the “iWatch” name trademark protection in Japan.
HTC has had a terrible year so far with its stock prices plummeting by 54 percent following weak sales figures, and losses because of its failure to match the strengths of the likes of Samsung and Apple.
