Sep 07, 2017 18:40 JST
Source: HKTDC
|
|
Asian Watch Conference Unveils the Future of Smart Watches
HONG KONG, Sep 07, 2017 - (ACN Newswire) - Watchmakers who have established themselves in the global market for many years are being forced to re-evaluate their ideals and branding strategies while trying to embrace new technology posed by the growth of smart watches. These trends and technological developments were discussed on 6 September during the Asian Watch Conference at the HKTDC Hong Kong Watch & Clock Fair at the Hong Kong Convention and Exhibition Centre (HKCEC).
| Philip Wong, Vice President of Technical, Swissam Products Ltd, Movado Group Inc, reveals how his company decided to go into the smart watch business. |
With the theme "Smart Movement in Time," the conference aimed to enlighten attendees on the impact of smart watches in the market and how traditional companies are rising to the challenge of manufacturing watches that cater to modern needs.
Connecting devices
Philip Wong, Vice President of Technical, Swissam Products Ltd, Movado Group Inc, said the smart watch revolution posed a major challenge for Movado, which was formed in 1881 and is known for its classic Museum Watch, launched in 1947.
It was not until 2014 that Movado launched a smart watch, according to Mr Wong. "Movado was making luxury mechanical watches, and of course, analogue watches and we never thought that we would ever do smart watches.
"A question was brought up some years ago about the trend of smart devices in the watch industry. Is this an opportunity or do we just let it go? We did start to look at the market and we realised that, in our definition of a smart watch, it is something that could interact and connect with other devices, from a customer perspective and that is how we proceeded."
Mr Wong said that Movado's move into the smart watch market was a bold one and that the company is now collaborating with Internet giant Google to enhance platforms that would benefit its customers.
Combining expertise
Sara Chung, Project Manager, Teamwork Automation Co Ltd, is the third generation of a family business based in the Chinese mainland's city of Shenzhen, known for its Taiwanese Taylor watch brand. The company has a long history in watch-making. She said that watchmakers are facing enormous pressure from the electronics industry that produces smart devices. But she added that the companies must stay faithful to their roots, which is to make watches, not electronic products.
Ms Chung quoted her company's market research, which indicated that smart watch sales suffered a significant drop in 2016 after peaking in 2015 and that there was a 30 per cent abandonment rate in which customers stop using smart watches after a certain time.
"One of the reasons for the high abandonment rate is that customers actually buy the watch for its functions. The problem, however, is that technology always change and then you have to change the watch for the new functions. The lifespan of this product is short," said Ms Chung.
However, she is confident that smart watches will thrive in the future, maybe involving technology that has yet to be developed."We think that smart watches of the future will develop a new type of movement. It will probably not even be called 'smart'. It might have a new definition."
Added security
Protronix International is a Hong Kong-based manufacturer, exporter and retailer of timepieces that continues to make analogue watches enhanced with smart technology. Company CEO Malcolm Ong said that a major part of his company's success is its commitment to provide upgraded software and value-added customer service. He said one of the most important aspects of a smart watch is ensuring that apps are updated regularly.
"The maintenance of apps is one of the most important factors for success," said Mr Ong. "When a Samsung model was launched in December 2016, they then upgraded the model and the Android app was completely rewritten, so the watch you were using in 2016 doesn't work anymore because of the upgraded app. This is where our strength is.
"We buy new phones in the market on a monthly basis to make sure the app is updated. The second thing is customer service. Customers can call our service and we can guide you along to make sure the watch works and also use cloud service to update. A smart watch is not a smart watch unless the app is updated and we are very strong in that."
Mr Ong said he expected future smart watch functionality to play an important role in security-related applications. "We will continue to cooperate with lots of different companies with security being one of the most important factors," said Mr Ong. "We will work with security companies on motion- sensor detectors, cameras for home and indoors, and other functions.
"If someone breaks into your home, it will be indicated in the watch and you can then go to your cell phone to find out exactly what is happening."
Fair Websites HKTDC Hong Kong Watch & Clock Fair: www.hktdc.com/hkwatchfair 5-9 September: Trade visitors aged 18 or above only (Free Admission) Salon de TE: www.hktdc.com/hkwatchfair/te 9 September: Open to public visitors aged 12 or above (Free Admission) Photo Download: http://bit.ly/2xPQq9a
For Media: Media representatives wishing to cover the event may register on-site with their business cards and/or media identification.
Contact:HKTDC
Communication and Public Affairs Department
Selina Fan
Tel: +852 2584 4298
Email: selina.mi.fan@hktdc.org
Source: HKTDC Sectors: Watches & Jewelry
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
Latest Release
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan Apr 26, 2024 10:00 JST
| Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024 Apr 25, 2024 18:21 JST
| MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park Apr 25, 2024 17:45 JST
| GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series Apr 25, 2024 16:50 JST
| Toyota Exhibiting at Beijing Motor Show 2024 Apr 25, 2024 16:25 JST
| Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada Apr 25, 2024 11:10 JST
| UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh Apr 25, 2024 09:00 JST
| Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date Apr 24, 2024 17:19 JST
| MC and Denka Sign J/V Agreement in Fullerene Business Apr 24, 2024 17:02 JST
| Mitsubishi Motors Posts Record Sales in the Philippines in FY2023 Apr 24, 2024 13:56 JST
| NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance Apr 24, 2024 13:25 JST
| Fujitsu SX Survey reveals key success factors for sustainability Apr 23, 2024 10:25 JST
| Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions Apr 22, 2024 16:09 JST
| NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II Apr 22, 2024 15:09 JST
| Soft Space Launches the First and Only JCB Payment Gateway in Malaysia Apr 22, 2024 15:00 JST
| TOYOTA GAZOO Racing takes a one-two in Croatian thriller Apr 22, 2024 10:47 JST
| First-ever Mazda CX-80 Crossover SUV Unveiled in Europe Apr 19, 2024 13:50 JST
| Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces Apr 19, 2024 10:17 JST
| Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas Apr 18, 2024 17:01 JST
| Toyota Launches All-New Land Cruiser "250" Series in Japan Apr 18, 2024 13:39 JST
|
More Latest Release >>
|