New Gear 2 Smartwatches: Second Time’s a Charm?
It’s not often that a consumer electronics company beats the competition to market in what’s expected to be a “next big thing” product category and then gets a chance to release a second generation version while everyone else is still scrambling to put together their first. Sony (SNE) saw this play out with its SmartWatch — also now on its second generation — but even the revamped version has failed to generate much in the way of interest.
Samsung has been fortunate enough to enjoy this scenario too, and it hopes to make more of its good fortune than Sony did.
The Gear 2 and Gear 2 Neo smartwatches address many of the shortcomings of last year’s Galaxy Gear, but we won’t know how consumers will react to these new and improved “Galaxy Gear 2” smartwatches until they hit store shelves in April. And price — the one thing Samsung didn’t announce yet — is likely to be a big factor.
With Apple’s iWatch expected to be released this year, not to mention smartwatches from Microsoft, Google and others reportedly in the works, Samsung isn’t likely to get a third shot at establishing an uncontested leadership in the smartwatch race. SSNLF fans will have to hope the Gear 2 and Gear 2 Neo have what it takes, because the smartwatch market is expected to get crowded with contenders later this year.
As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.