Samsung Expands Payment Business to New Smartwatch Products

Samsung Expands Payment Business to New Smartwatch Products

Samsung Electronics Co. unveiled its new wristwatch device in Berlin Wednesday, consisting of support for contactless payments, because company pushes to catch around Apple inside a still nascent market of wearable products.

At the IFA technology tradeshow, the biggest smartphone maker introduced your machine S3 Classic and equipment S3 Frontier – two variations of identical base product, which support Samsung Pay and so on the Frontier version also allow users for making telephone calls or even just book an Uber ride with the device without the need for a smartphone to become connected.

“We want individuals be capable of leave their phone at home and don’t use anything except the apparatus,” Tony Kim, from Samsung’s global product planning team, said killing the product’s announcement.

Samsung, which introduced its first wristwatch-like device in 2019 previous to Apple along with other rivals to carve a share of your just-forming wearable market, failed to draw people’s focus the fresh watch category. But it really has steadily been enhancing the feature groups of such products, making them less determined by being permanently in choice of a connected phone.

Apple is slightly well before Samsung in rolling out its Apple Pay contactless payment business – currently within nine regions in comparison to Samsung’s eight. Both systems let consumers register a credit or card recommended to their phones in order to make small contactless payments in stores, taxis, or on or buses. And both companies already have wearables that secure the technology.

But it will be the cellular highlights of the tools line that may be a sore position for Apple, that’s attempting to incorporate similar technology in to the next form of the Apple Watch but ran into delays. The feature in Samsung’s model allows the watch to acquire a cellular phone number to generate telephone calls, sending SMS messages or using apps from Spotify or Uber Technologies. Only US and Korean versions within the Gear will support this selection, compared to other regions needing Wi-Fi or get in touch via Bluetooth to your compatible phone.

Samsung’s incorporation of cellular connectivity into the previous Gear models would be a key reason for the goods line’s success, depending on market analysis published by research group IDC in July. “Focusing within the telco channel to get future success in telco-driven markets will remain the core technique for Samsung continuing to move forward,” the gang concluded.

Other top features of the Gear S3 have a 1.3-inch color display, a GPS location sensor, 4GB of storage space, wireless charging, as well as a battery the company says will last between three and four days about the same charge. It’s also resistant against water and dust.

Just as Apple’s smartwatch isn’t going to hook up with Samsung’s phones, Samsung’s Gear S3 doesn’t go to its rival’s iPhone range, although it’s works with many competing Android devices for example those manufactured by Sony Corp. and LG Electronics Inc.

“We started a beta program for iOS in Korea on the S2. We opened it in beta to acquire feedback from the users regarding their experience,” said Kim. “There work just like plans at this time to achieve this while using the S3 but we’ll keep revisit once we complement.”

“Smartwatches could be the fastest growing segment with the wearables market in 2019, and 2019 promises to be a good bigger year,” Morgan Evans, head of communications for Samsung in Europe, said in Berlin. The marketplace for smartwatches specifically “will double in 2019,” he was quoted saying.

A May survey because of the industry body GFU showed 22 percent of respondents prefer to buy a smartwatch after 2019, Hans-Joachim Kamp, president on the Electronic devices Association, said in the opening keynote at IFA on Wednesday. Sales of wearables more broadly – this includes numerous smartwatches to glasses – are expected to build 58 percent globally in 2019 to 122 million units.

In July, IDC reported a year-over-year decline in global smartwatch sales, with 3.5 million units shipped in the second quarter of 2019 in comparison with 5.1 million units in the same amount 2019. Of the people 3.5 million, 1.6 million were Apple Watch models. IDC’s research revealed that Apple was a common smartwatch manufacturer that saw declining sales year-over-year, with Samsung in second place.

“Consumers have held off on smartwatch purchases since early 2019 in anticipation of a hardware refresh, and enhancements in WatchOS are certainly not expected until later in 2010, effectively stalling existing Apple Watch sales,” said Jitesh Ubrani, senior research analyst for IDC Phone Trackers.

The new Gear S3 models are hoped for to be sale until the end of the season.

? 2019 Bloomberg L.P.

Leave a Reply

Your email address will not be published. Required fields are marked *