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Apple Plans New Watch For Extreme Sports Environment: Bloomberg

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Apple Plans New Watch For Extreme Sports Environment: Bloomberg

Apple Inc (NASDAQ: 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 (OTC: CSIOF) (OTC: 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 (NYSE: NKE) and Hermes International SA (OTC: HESAF) (OTC: 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.
 

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