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Two Taiwan cos bag orders for Apple iWatch

business Updated: Aug 28, 2013 22:40 IST

AFP
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Two leading Taiwanese electronics firms that assemble products for Apple have received orders to make the highly anticipated ‘iWatch’.

“Apple is likely to introduce ‘iWatch’ in 2014. From our channel checks, Inventec is the major assembly source with about 60% of order allocation,” said CIMB Securities analyst Wanli Wang in a report on Wednesday.

CIMB projects 63.4 million units of ‘iWatch’ shipments in the year after its launch with an average price of around $199, while the project itself is estimated to contribute 19% of Inventec’s earnings in 2014, Wang told reporters.

Taiwan’s Apple Daily newspaper said Quanta Computer was splitting the ‘iWatch’ orders with Inventec by taking 40% of order allocation, citing unnamed sources.

Inventec and Quanta both declined to comment.

Wearable computing devices such as Google’s Glass eyewear are widely seen as the next frontier in consumer electronics, following the huge popularity of smartphones.

Competition in the ‘smartwatch’ market is heating up, with Google, Microsoft and Samsung Electronics racing to develop their own watch-type computing devices.

Apple chief Tim Cook earlier this year forecast that there will be “tons of companies playing” in the wearable computing sector.