Internet search giant
) has purchased WIMM Labs, a wearable technology firm, according
to a report by GigaOM. The deal was completed in 2012.
Los Altos, Calif.-based WIMM Labs offers a platform which
enables smart micro devices to deliver information at a glance in
a wearable form. The company's platform for wearable technology
and other connected devices is available for licensing by major
consumer brands in mobile, sports, finance, consumer electronics,
among many other industries.
Though Google has made no official announcements to make a
smartwatch, the deal signifies that the company plans to ramp up
its efforts in the wearable computing market.
According to experts, wearable computers or smartphone devices
are the next step in mobile electronics. The tech companies are
also blending the fashion quotient to market their new unique
devices. The success of these wearable computers depends on the
fashionable accessibility of such devices.
A number of tech companies are exploring the segment.
) for one has come up with a smartwatch that one can wear on
their wrist to check emails and access music stores in addition
to checking time. Other companies like
) and Samsung Electronics Co. are also expected to introduce a
wristwatch-like device, with features of a smartphone this
Google is known for its focus on research and development,
which empowers it to launch new and innovative products. Last
year, Google announced that it is testing a new eyewear which is
scheduled for a worldwide release in the second half of this
year. The idea behind the Internet-enabled eyewear was much like
a wearable smartphone, which will allow the user to receive
calls, take pictures, send messages, record a video, use Google
Maps and perform other functions via voice-activated
In the second quarter, Google's earnings of $7.81 per share
missed the Zacks Consensus Estimate by $1.23 or 13.7%. However,
gross revenue came in at $14.10 billion, representing sequential
and year-over-year growth of 1.0% and 19.5%, respectively.
Google currently carries a Zacks Rank #4 (Sell). Another stock
that has been performing well and is worth considering is
carrying a Zacks Rank #1 (Strong Buy).
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