Apple's upcoming iWatch will occupy the high price range in the smartwatch market with a $400 price tag.
Apple, one of the largest smartphone making companies around the world, is known for its high price range for premium product lines that range from smartphones to tablets and computers to laptops. The Cupertino tech giant plans the same pricing for its wearable gadget. According to the latest report by Re/Code, Apple executives are planning to hit the highest price range for the smartwatch.
Apple is expected to launch multiple models of its first wearable gadget. Most of them will carry competitive price tags but the high-end smartwatch model will go as high as $400, the report added. The tech news site is usually a reliable source for pre-release rumors but without an official confirmation, these are still just rumors.
Apple is widely expected to launch its next flagship, the iPhone 6, alongside the coveted iWatch, an unofficial name given to Apple's smartphone, at a press event September 9. The tech giant also sent out invites to the media confirming the next launch event. But Apple has been highly reticent about the products to be launched.
As for Apple rivals, renowned tech brands like Samsung, LG, Google, Sony and Pebble have already flooded the smartwatch space. According to NPD, Samsung leads in the smartwatch sales market in the U.S. while Pebble comes in second, mainly for its affordable pricing. Samsung offers an extensive range of smartwatches with a varying price range. Even the high-end devices like Moto 360 and Pebble Steel do not cross the $300 barrier. Apple will have to compete against these existing brands that have already kick-started their journey in the niche category.
Effective pricing will be a challenge for the Cupertino tech giant, but the company has always overcome by pushing the standards of the product above others. It remains to be seen whether a similar strategy will work in this new category.
