"Even then, as I have said before, the forecast market for wearables is so large in the next few years that there will be plenty of room for us and competitors."
"Research firm Statista believes the global wearable tech market will reach $US5.8 billion ($7.8 billion) by the end of this year. A recent report by Gartner predicted kids’ smartwatches would make up 30 per cent of the market" 30% of $7.8bill is a market size of A$2.34 billion for kids smartwatches. If 130,000 Spacetalk watches are sold over the next 12 months at around A$349, that works out to $45 mill or just 2% of the market (and then there is strong annual growth forecast going forward). There is obviously a huge space for competitors and for us to grow into. We can be a very small 2% of the market and still see a big increase in current sales and sp. Competition is no barrier to growth in this large a market.
"Mr Fortunatow said MGM Wireless was already working on the next versions of the device and was “expanding into a whole range of family wearables” including waterproof watches, home alarms and pet trackers, all integrated into the same platform."
Who was it that said we they were concerned that our watch is water resistant but not waterproof? Looks like a waterproof version is coming out this year along with a range of other products. It's not just growth into Europe for our current Spacetalk watch to look forward to this year.
