Intel Corporation (NASDAQ:INTC) is the next tech company to enter the wearable space. Intel has announced the acquisition of San Francisco based wearable technology company, Basis in May 2014. This announcement has marked the entry of Intel into the wearable market. GM and VP of Intel, Mike Bell talked to Cory Johnson on Bloomberg TV about the new Intel’s Basis peak watch.
Intel Corporation (NASDAQ:INTC)’s acquisition Basis’s first health tracker, B1 was launched in Dec 2012. But the latest Peak Watch does not just function as a health tracker but also as a smart watch. Smartwatch industry is already crowded by many with the latest entrance of Apple Inc. (NASDAQ:AAPL) with its iWatch. Bell mentioned that the acquisition of Basis was mainly due to the phenomenal technology that the company held at its core. He added that among all the health trackers out there in the market Basis’s products are the ones that works and gives accurate results.
Bell unveiled the latest Peak Watch and mentioned that it is the Gen 2 health tracker from Intel Corporation (NASDAQ:INTC)’s Basis. He mentioned that Peak Watch is lighter compared to the B1 and is made of aluminum and Gorilla glass with a touch screen as opposed to limited touch features in B1. He mentioned that Peak Watch is made for swimmers too as it is water resistant with better sensors. He said that Peak Watch is overall a better product compared to B1.
Once the Peak Watch fits onto the wrist it emits light into the skin which monitors the heart rate of the user. Bell mentioned that the watch has total battery capacity of 4 days. He added that the device can monitor heart rate, sleeping habit and exercising habits.
Bell talked about the technology that goes behind the peak watch.
“[…] Basically these smart people as Basis have figured out how to take the sensors inside of the peak product and figure out what your body is doing based on what the sensors tell it and it’s not an easy thing to get right,” Bell said about the technology behind Peak Watch.
Bell added that Intel Corporation (NASDAQ:INTC) bought Basis not only for the product but also for the technology. He mentioned that Intel can make use of the Basis’s technology into other products and license it as well. He said that Intel is not just a chip company as many thinks, he added that Intel is a software company, algorithm company and a cloud company too.
Bell thinks that the market space for this device is pretty big and this does not just cater to elite athletes but also to individuals who like to monitor their day to day activities that impact their sleep and fitness. He pointed at the stats that by 2020 more than 50 billion devices might be connected together and if even a fraction of that goes to wearable, that is a huge market.
As of 30 June, 2014, Ken Fisher‘s Fisher Asset Management hold around 19 million Intel Corporation (NASDAQ:INTC) shares.