TAG Heuer to launch $15,000 smartwatch next week

Luxury Swiss watchmaker TAG Heuer will next week launch a smartwatch aimed at taking on the Apple Watch, but with an asking price of $15,000, the company chief said in an interview published Sunday.

Jean-Claude Biver told the Le Matin Dimanche weekly that the titanium Carrera Connected watch would hit stores in New York at noon (1700 GMT) on Monday.

Three days later, the new watch will come to Europe.

"Our watch will have almost the same functions as an Apple Watch, but I don't want to divulge too much," he said.

TAG Heuer has joined forces with technology behemoths Google and Intel to develop a connected watch able to claw back some market share from Apple, which has shipped millions of its smartwatches since launching six months ago.

TAG Heuer's new watch will meanwhile target a more high-end clientele than the average Apple Watch buyer.

It had been rumoured to go for $18,000, but Biver said in Sunday's interview it would carry a price tag of $15,000 (14,000 euros).

"The Carrera Connected is an exclusive, luxury watch," he said.

In comparison, it is possible to acquire an Apple Watch for under $400, although more exclusive models can cost around $17,500, he pointed out.

Biver, an industry legend who also leads the watch division of TAG Heuer's owners LVMH, insisted that he does not consider Apple a direct competitor.

Caption: A teaser image of Tag Heuer's Carrera Connected

Photo: Deccan Chronicle