The nascent smartwatch category has become vicious. Apple owns the majority marketshare and presumably the most profits. Meanwhile, every other smartwatch competitor struggles. Steve Kovach on Pebble’s problems:
Pebble, the buzzy startup credited for being one of the first companies to launch a modern smartwatch, is laying off 40 employees this week…
The Pebble layoffs come at a shaky time for the wearable technology market. FitBit, the leader in the wearable category, has seen its stock fall dramatically in recent months. Apple dropped the price of the Apple Watch by $50 to $299 on Monday, a sign that it’s not selling as well as hoped.
Or, it’s a sign that Apple intends to hold onto its perch atop the smartwatch industry by being competitive on pricing.
Smartwatches were once considered to be the “next big thing” in consumer technology, but so far no one has created a must-have gadget in the category. They’re nice to own, but still not as capable or essential as a smartphone.
‘Next big thing?‘ Only by members of the technorati elite politburo who neither understand the market nor Apple’s place within the technology industry. Remember, Apple’s Watch is an accessory. Nothing less. Nothing more.