In an encouraging piece of information Samsung is all set to reduce the retail cost of the Galaxy Gear smartwatch that was launched in September last year. This device from Samsung came with the best of specifications but the hefty price tag failed to make the device popular.
Since Galaxy Gear sales have been average and not great; analysts were quick to point out whether smartwatches were truly “the next big thing”.
Although Galaxy Gear was launched with features that made it stand out in the market, it didn’t rise to meet the sales expectations of the industry speculations. A price tag of $300 in the U.S could have been the main reason for a lukewarm response. Another setback may have been due to limited compatibility it offered with Samsung’s Galaxy Note 10.1.
Samsung India has already lowered the price of Galaxy Gear to $244 and there are rumors that other markets will soon be offering a price cut on the retail price of Gear as well. There is no official press note providing details but considering the Indian discounted rate, the price in USA and Europe should be somewhere around $210.
If Samsung does reduce the price of Gear in U.S. like it did in India it would make the device more competitively priced as against rivals like Pebble’s original smartwatch that comes at a price tag of $150 and Sony’s SmartWatch 2 which is tagged at $200.
After the reduced price, Samsung is likely to unveil a second generation Gear successor at the 2014 Mobile World Convention (MWC) event to be held in Barcelona, Spain this month. The new Gear will come with more features and will be less bulky. The reduced price would be to reduce the stock of the previous generation Gear.
When the Galaxy Gear 2 makes its entry this year it will be met with a greater level of competition as all major players in the market have lined-up their wearable devices for release this year. Apple and LG are rumored to be working on their own smartwatches with speculations stating that iWatch from Apple could be priced at $300 which is the same as the initial price of Galaxy Gear.
The second-generation Gear along with the Galaxy S5 is expected to be released by April.
Does the offer sound good enough for you to grab a Galaxy Gear? Do write to us with your views in the comments section provided below.