Apple Plans New Watch For Extreme Sports Environment: Bloomberg

Apple Inc APPL is planning the launch of an Apple Watch with a rugged casing targeted at athletes, hikers, and others in more extreme environments, Bloomberg reports.

• The company had internally discussed introducing such a Watch variation later in 2021 or 2022 at the earliest.
• Bloomberg notes this is Apple’s second attempt at a rugged smartwatch after the 2015 debut of the popular Apple Watch. Apple has added several sports and activity-tracking features via its annual update cycle.
• Casio Computer Co Ltd CSIOF CSIOY and other watchmakers have witnessed robust sales from sturdier product designs with extra protection. 
• The rugged version would be similar to Apple’s cheaper Apple Watch SE and special editions co-branded with Nike Inc NKE and Hermes International SA HESAF HESAY. It would have extra impact-resistance and protection akin to Casio’s G-Shock watches.
• Apple is also developing new swim-tracking features for the Apple Watch. The company rolled out the cheaper Apple Watch SE and faster processor and blood oxygen sensor with the Apple Watch Series 6 last September.
• The device would be a part of the company’s wearables, home, and accessories segment, which generated over $30 billion in FY20 sales. Reportedly, Apple owns a 40% smartwatch market share in the fourth quarter of 2020.
• Price action: AAPL shares traded lower by 0.24% at $120.30 in the premarket session on the last check Friday.