Huami has announced it has entered into a strategic partnership with Timex to explore opportunities in the smartwatch space.
Essential reading: Top fitness trackers and health gadgets
The collaboration certainly makes sense. Huami was only established in 2013, but has since become one of the biggest names in the wearables space. The company is behind a number of popular smartwatches and fitness trackers under the Amazfit brand. It is also the sole partner of Xiaomi for wearable products such as the best selling Mi Band.
Timex, on the other hand, has a presence in watchmaking that dates all the way back to 1854. What it lacks, though, is expertise and presence in the wearable tech space. Many traditional watchmakers are recognising the importance of this market and Timex seems to finally be making a move in this direction.
“We are excited about the opportunities this Agreement provides, especially the ability to leverage Timex’s developed channels to gain deeper access to the U.S. and other mature markets,” said Wang Huang, Chairman and CEO of Huami Corporation.
“Together, we will work to develop business models to promote, market and distribute smart watches to our combined customer base, and expect to leverage each company’s distribution strengths across the global market while benefiting from established online and offline channels. This is an important strategic alliance, which will further allow us to provide products and cloud based services to our global users.”
The duo will look to pair Huami’s experise in app design, AI technology, cloud platform and manufacturing capabilities with Timex’s globally recognised brand, customer base, marketing and distribution channels. The companies are expected to work on the next generation range of smartwatches for sale both in mature and emerging markets.
“Together with Huami, we will bring forth a new generation of smart watches set to disrupt the category,” added Tobias Reiss-Schmidt, President and CEO, Timex Group.
“We bring world class product development and manufacturing capabilities in our respective fields and poised to create new products and services that provide users of smart wearables convenient access to valuable data and beneficial connections to the world around them.”
Like this article? Subscribe to our monthly newsletter and never miss out!