Watch out, Apple — a cheaper competitor is coming for you

(Swatch) The Sistem51 watch. 

This $150 watch is terrifying for Apple and luxury companiesWatch out, Apple — a cheaper competitor is coming for you.
Sales of the Apple Watch have been disappointing amid criticism that it's uncomfortable, difficult to read, and too complicated to use.
And on top of that, it's really expensive.
The classic version starts at $549. There's the cheaper Sport version that is $349 to $399, and the very high-priced Edition version that can cost you between $10,000 and $12,000.

 
This costly product is a tough sell for millennials, who are already strapped for cash.
But now, Slate reports Swatch's Sistem51 could potentially challenge Apple, as it wins in the price department at a low $150. Slate enthusiastically proclaimed that this watch will "change everything."
The 100% Swiss-made watch never runs out of battery and is powered by the movement of the person wearing it.
This watch earns its status because it's the opposite of the Apple Watch: It's simple, and yet innovative. It's an automatic watch, and it isn't pretentious.
Business Insider's Matthew DeBord called it "the coolest $150 watch in the world" and hailed the watch for "reducing the number of parts in the movement to 51, about half of what a typical automatic watch requires."
Additionally, watch blogs, such as Hodinkee, have been singing the Sistem51's praises.
The low cost could truly make it more appealing to those who were halting on spending money on big-ticket purchases, like the Apple Watch — or even a fashion watch.
The combination of price, simplicity, and convenience make it an appealing choice for young consumers.
Further, millennials are spending the majority of their money on items such as technology versus apparel and accessories.

View gallery

.

(REUTERS/Danny Moloshok) The Apple Watch is plagued by criticism it is too expensive.
Watches could fall somewhere in between tech and apparel, but a YouGov survey found that 60% of 16- to 34-year-olds didn't think watches were necessary in the age of smartphones.

This makes it unlikely they would shell out hundreds of dollars for the Apple Watch.

The Apple Watch also faces a problem that analog watches do not: battery life.

The Sistem51 runs for 90 hours, while regular mechanical watches last about 40. The Apple Watch, with an 18-hour battery life, requires a nightly charging.

While tech enthusiasts might still find the allure in the Apple Watch, regular consumers might find solace in this watch's simplicity.

And with a reasonable price tag, you won't have to think too hard about shelling out for it.

culled from finance

Is your friends birthday coming soon? Tell it to Gist360 now, we have surprise for the..click for detail