Semiconductor giant Intel has long been looking for a way to diversify its business, caught as it is in the rise of smartphones and tablets and the decline of PCs.
It demonstrated that fact a few years back by devoting its entire CeBIT press gig to designer handbags and now it seems to want to go a different way again.
It has signed a deal with the Fossil Group, a company which specialises in fashion accessories. The big idea is to work to identify emerging trends in wearable technology – a sector that has already met with some derision.
And, as if to underline how silly this is all becoming, both companies are using the “iconic” word. “Fossil will work with Intel to enable fashion brands within the company’s portfolio to participate in wearable technology in a fashionable way.”
Fossil, said CEO Kosta Kartsotis, said combining his firm’s fashion lifestyle brands with Intel’s expertise will let his company be a leader in the segment.
But there’s a financial element involved, because Fossil will tie up with Intel Capital. Intel Capital has already invested in companies including Thalmic Labs and Basis.
No one knows how big the wearable sector will be. Or how small.
