Speaking at the Baselworld watch and jewelry fair earlier today, Jean-Claude Biver of the French multinational luxury goods conglomerate LVMH revealed that his company’s first TAG Heuer Android Wear smartwatch TAG Heuer Connected is doing well in the market. In fact, it’s doing so well that LVMH is planning to release an entirely new collection of Android watches in 2017. “We were too cautious,” admitted Biver when speaking about the initial 15,000 units of TAG Heuer Connected the company launched at a little over $1,400. According to him, despite the fact that it has already invested around 10 million Swiss francs in its smartwatch project, LVMH “totally underestimated demand” and is looking to set things right by this time next year.
TAG Heuer is planning to sell between 40,000 and 50,000 Connected smartwatches by the end of the year. However, it’s going to start assembling its smartwatches directly in Switzerland as of this September, after its partner Intel sets up a production line in the company’s home country. While Biver admits that nobody knows what will happen with the rapidly growing smartwatch industry in the future, he states that LVMG prefers to be onboard of the smartwatch train rather than just watch it. He’s also optimistic about what’s ahead for LVMG and TAG Heuer specifically, as he believes smartwatches could soon amount to as much as half of the latter’s sales.
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It remains to be seen whether this additional push the Swiss watchmaker is planning to make in the smartwatch market will pay off, but given the overall build quality and features of TAG Heuer Connected, it’s not really surprising that it’s doing well. The device is packed with 1 GB of RAM, a dual core processor clocked at 1.6 GHz, 4 GB of internal storage, a 1.5-inch fully circular transflective LTPS LCD display that boasts 240 ppi, and a 410 mAh battery. Sure, it’s not cheap, but there’s a luxury market for pretty much any kind of product or a service, and luxurious watches are definitely not a new thing. At $1,400, The TAG Heuer Connected isn’t even in the upper price tier of what this brand has to offer to watch aficionados. No firm release dates were given for the upcoming line of TAG Heuer smartwatches, but more details are expected to follow in the coming months.