SEOUL, Could 9 (Yonhap) — LG Electronics Inc., which not too long ago showcased the LG G7 ThinQ smartphone, plans to launch a brand new smartwatch subsequent month, in search of to speed up efforts to revitalize its struggling cellular communication enterprise, business watchers mentioned Wednesday.
The brand new smartwatch would turn into the successor of the LG Watch Fashion launched in March final yr. The product is anticipated to hit cabinets in South Korea subsequent month and regularly attain different markets, together with the US.
Sources mentioned the 1.2-inch spherical smartwatch will turn into the primary product available in the market to be powered by the Google’s Put on working system.
Though the upcoming smartwatch is the eighth of its sort launched by LG, the South Korean firm solely holds a weak presence available in the market.
U.S. tech large Apple Inc. presently accounts for roughly 60 % of the world’s smartwatch market, adopted by Samsung Electronics Co. with 10 %. Different smaller gamers share the remaining slices.
Business watchers, nonetheless, declare that LG Electronics can’t hand over on the smartwatch enterprise, contemplating the market’s progress potential going ahead.
In keeping with the info compiled by business tracker IDC, the worldwide gross sales of smartwatches are anticipated to hit 43.6 million items this yr and preserve progress to hit 84.1 million items in 2022.
Samsung Electronics can be anticipated to showcase a brand new smartwatch within the second half of the yr with enhanced well being care options.