Apple shows strong interest in wearable technology
Rumors concerning Apple’s development of wearable technology reached a fever pitch this week as Bloomberg reports suggest that a watch-like smart device could generate more revenue for the company than its line of iPads and its potential foray into the world of TVs. It is rumored that Apple has been working on a wearable device that speculators call the iWatch. This device is, essentially, a smartphone combined with a wristwatch, and while it may sound very simple, the device could have major implications for the company’s financial future.
Patents point to wearable technology from Apple
Apple has filed 79 patents concerning the development of wearable technologies. Some of these patents pertain specifically to devices worn on the wrist. Apple has shown strong interest in moving smart technology beyond the realm of cell phones and tablets, believing that wearable technologies may be attractive products for future consumers. Apple’s interest in the watch industry is not misplaced, as analysts from Citigroup suggest that the global watch industry will generate more than $60 billion in sales this year.
iWatch may be a promising opportunity
Analysts suggest that the iWatch represents a $6 billion opportunity for Apple. Moreover, the development of such a device could have major implications for the company’s future. When Apple released the iPod, it was considered something entirely new in the realm of consumer electronics. The iWatch may have a similar impact on the sector, returning Apple to the proverbial throne of mobile technology, which was recently taken over by Samsung.
Innovative steps must be taken to compete with Google and Samsung
Apple has not announced any definitive plans concerning the development of a wearable smart device. CEO Tim Cook has alluded to the company positioning itself to compete with both Samsung and Google more aggressively in the near future. The company has plans to take innovative steps in the realm of mobile technology in order to compete in the consumer electronics market, but whether the iWatch is anything more than rumor has yet to be seen.
New report examines the mobile commerce landscape of 2013
Mobile Commerce Daily has released a new report highlighting the trends that are emerging in the retail industry. The report, titled the Mobile Commerce Outlook 2013, provides some insight on how retailers are approaching the issue of mobile commerce and the various challenges they face in doing so. More retailers are beginning to feel the need to cater to mobile consumers, especially as these people become more prone to spending money through their mobile devices rather than participating in traditional forms of commerce. As mobile payments become more common, companies that opt out of mobile commerce may be missing a major opportunity.
Consumers showing more comfort with mobile shopping
According to the report, consumers are more likely to purchase more products if they are shopping from a mobile device. Retailers with efficient and easy-to-use mobile commerce systems see higher sales volumes than those offering cumbersome services. Consumers have shown a great deal of comfort in purchasing products using their smartphones and tablets, even when faced with lingering security concerns the inefficiency of some mobile commerce platforms.
Amazon and eBay establish strong lead in mobile commerce
Companies that already have a strong online presence have been able to establish a formidable lead in the mobile commerce arena. eBay, for instance, expects to see more than $20 billion in global mobile sales in the coming years. Amazon continues to enjoy a dominant role in the retail industry, which has been punctuated by the company’s growing support for mobile commerce. The company has begun catering more heavily to mobile consumers, forcing its competitor to follow suit or risk losing out on a sizable portion of loyal customers.
Security concerns likely to persist into the future
Mobile commerce is still faced with significant challenges which are not likely to be entirely overcome this year. Security remains one of the most significant of these challenges. While many consumers pay little attention to the issue of mobile security, when financial information becomes involved they begin to show more concern. There is no simple solution to the security issue, which means that it will likely continue to plague mobile commerce well into the future.
