A month ago it seemed as though Apple (AAPL) was alone in its plans to bring a smartwatch to market, but that no longer appears to be the case.
Earlier this week we saw reports that Samsung was gearing up to launch its own smartwatch, and now it appears as though Google (GOOG) is in the race as well.
Apple should be used to competition from Google and Samsung, but for both companies to be working on a similar device to the one that is supposed to be Apple's new breakthrough product has to be a concern.
Wearable computing is definitely going to be the next big thing in the tech world, and whoever can capture the market first is going to have a big advantage over the competition.
For months it appeared as though the battle would be fought between Apple's smartwatch, and Google's Google Glass, but it seems as though the watch is going to be the primary battleground.
Google and Samsung both realize the importance of wearable electronics, but if either company wants to get a jump on Apple they had better hurry. Industry experts believe Apple is just months away from launching its smartwatch, so if either Google or Samsung want to get out there first they have a lot of work to do.
In my opinion, there is little chance that Apple will not be the first company to bring a smartwatch to market. If it were not for reports that Samsung and Google were also planning to enter the market Apple would be practically assured of great success, but the fact that Google and Samsung have something coming down the pipeline could be enough for some potential customers to put off a new purchase until there are alternatives to chose from.
Disclaimer: The author of this article has a long position in Apple (AAPL).
Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va.