Apple Has Considered $400 Price for Wearable Device

Apple Has Considered $400 Price for Wearable Device

The new information on Apple’s first wearable device were reported on Saturday by a tech site, which said sources at the company “have discussed charging around $400″ for the so-called “iWatch.

According to reports “Apple executives have discussed charging around $400 for the company’s new wearable device. Pricing has yet to be finalized for the forthcoming product, which is expected to begin shipping next year. Sources say consumers should expect a range of prices for different models including lower priced versions.”

The report indicates that it is unclear whether Apple will have the pricing issue settled in time for its September 9 media event where it will reportedly show off the device, popularly referred to as the iWatch. If not, the company would remain silent on pricing for the time being and announce it a later date closer to launch, which may not occur until early next year.

Apple intends to redefine an existing, albeit young, category at present populated by Jawbone and Fitbit, which make fitness bands, and other smartphone makers.

As a price assessment, Samsung, LGand soon Motorola and others will be out on the market with devices in the $200+ range. Samsung’s Gear 2 Silver retails for about $300 and most Android-powered smartwatches are in the $200 range. On the high-end, Timex’s forthcoming Ironman One GPS+ watch, which includes 3G wireless connection, will carry a $400 price tag.

Apple is possibly still in the process of finalizing the design for its wearable just like its pricing. A $400 iWatch could be a tough sell as that price would match the price of the iPad mini with Retina display, which starts out at $400 for the entry-level Wi-Fi-only model with sixteen gigabytes of storage.

According to reports the wearable may be launches at Apple’s September 9 event but won’t ship to consumers until sometime in 2015.