Apple wants to make its new watch a one-stop heart-monitoring shop; but this ASX stock might get there first
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While Apple fanatics eagerly await its next smartwatch with a heart monitor, there are a couple of ASX stocks that are competing with them — and one might even be ahead.
Apple’s (NDQ:AAPL) smartwatches first hit the market in 2015 and have been a smash hit ever since – the company accounts for 31.1% of the global smartwatch market.
But there has been an increasing pivot toward using smartwatches for health tracking and Apple is responding by adding more health-related improvements for its watches.
The Wall Street Journal reported last month it wanted features to tell users when their blood pressure was increasing, a thermometer to help with fertility planning and a heart monitor.
However, medtech company CardieX (ASX:CDX) just might help a smartwatch competitor beat them to it.
CardieX has five new products in development that are on track to launch this year and next, including the world’s first consumer dual-pulse blood pressure monitor and a wristband targeted at consumers with underlying vascular heart conditions.
The company is in a commercial partnership with Google-backed tech company Mobvoi which is, like Apple, a smartwatch maker. While it has not formally released the latest smartwatch or underlying app, XDA Developers uncovered what Mobvoi is working on.
Features of its future smartwatches will include determining the heart rate as well as load on the heart and its capability to provide oxygenated blood to cells based on the body’s performance demands.
XDA Developers pulled the render of the product from the app’s assets.
There is one other smart watch maker in Spacetalk (ASX:SPA). Although it currently lacks health monitoring features, these are designed for kids and seniors so that guardians can ensure their safety and care.
Among other things it can detect falls and enable chat between users.
It has been experiencing solid demand, growing revenues from $10.5 million to $15.1 million in FY21 and gross profits from $7.5 million to $9.4 million.