With the next big craze set to be in smart watches, it seems like anything is possible with technology nowadays. Currently smart watches allow you to take pictures, answer calls, and even allow you to access social media, all on your wrist. Companies like Sony (NYSE: SNE) and Samsung have already put their smart watches on the market. Sony with their new Smartwatch, and Samsung with the new Galaxy Gear.
Now Chinese companies like Xiaomi are reportedly preparing their own Chinese versions in hope of reaching out to consumers who want Internet-enabled apps on their wrist as well as their smartphone. Qihoo 360 Technology Co. (NYSE: QIHU) is a software firm that has been among the top Chinese performers this year, they hope to strike gold with their new smart watch sensation. Sina.com reports that Qihoo 360, headed by the ebullient billionaire Zhou Hogyi, will shortly launch a smart watch that will retail for under RBM1,000 (US$160).
Qihoo 360 Technology might have the upper hand on the rest of the competition. Qihoo is touching a GPS-equipped wearable device for kids, which allows parents to track their every movement. The device will go on sale in December for RMB100 (US$32) according to its website. This new smart watch will allow for parents and kids to communicate via the watch-like device.
This could provide added security and peace of mind for parents, and is an appealing attribute to the emerging Smartwatch market.