Intel Corporation (INTC) To Lead $5.8 Billion Wearable Industry

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In an article on Digital Trends, it was reported that Intel Corporation (NASDAQ:INTC) has clearly lost its battle in the smartphone industry and now looking for alternatives to catch up. According to a new report from IDC, Intel Corporation (NASDAQ:INTC) has around 90% of market share in then notebook chips business. But mobile phones have been a constant challenge for the company. Mobile phones are mostly powered by Samsung, QualComm and Realtek. Intel Corporation (NASDAQ:INTC) has finally adapted a strategy of focusing heavily on wearable industry instead of mobile business, the source claimed.

 Intel

The source said that Intel Corporation (NASDAQ:INTC) is not missing a chance to tap into the wearable industry that would be worth around $5.8 billion in 2018. It is buying wearable startups, making new partnerships and developing new technologies to dominate the upcoming market before its rivals. Recently, Intel has made a partnership with Luxxotica, the Italian company behind famous eye brands like Ray-Ban, Prada, D&G, Chanel and other sunglasses. Intel Corporation (NASDAQ:INTC) will launch a new eyewear by the end of 2015. This wearable device is much anticipated and would likely to beat Google Glass, which is already facing some challenges in terms of sales and popularity.

 Intel Corporation (NASDAQ:INTC)  has also joined hands with a startup called Fossil to make new products related to fashion, lifestyle and tech. Intel also teamed up with BasisScience to launch SMS audio headphones. It is also in a working relationship with The Michael J. Fox Foundation, a health company which is working with Intel Corporation (NASDAQ:INTC) to craft a device to treat Parkinson’s disease. Intel also has a partnership with 50Cent. It is also rumored that Intel will power up Google Glass 2 and Tag Heuer’s upcoming watch in 2015.

As of June 30, 2014, Ken Fisher’s Fisher Asset Management owns over 18 million shares in Intel Corporation (NASDAQ:INTC).

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