Watchmaker Tag Heuer Jumps Into Smartphone Bandwagon – Launches Luxury Handset Racer

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Tag Heuer, a Swiss luxury watchmaker known for its sports watches has joined the party and launched new smartphone – the Tag Heuer Racer. The Racer is an Android based smartphone and is said to be inspired by GT and Formula 1 racing cars.

“TAG Heuer RACER achieves an unparalleled torsion and strength to weight ratio. The result is a fusion of luxury and performance inspired by TAG Heuer heritage in GT cars and Formula 1,” said the company in its press release.

This luxury smartphone will  have a high speed processor, and a new customisable 3D user interface to fit the individual needs of each owner. The company has not revealed much information about the phone’s technical specifications. The new TAG Heuer Racer collection is priced approx. US $3,700 and will be available in TAG Heuer boutiques, luxury mobile boutiques and selected watch and jewellery retailers in July. Those who are willing to pay a hefty amount for a phone won’t be too bothered about its specs.

Luxury markets all over the world are growing despite recessionary symptoms in some countries. The Indian luxury market is estimated to grow 21% a year to $14.72 billion, or around Rs 73,500 crore by 2015, up from $4.76 billion, or about Rs 23,700 crore, in 2009, according to a CII-AT Kearney report. And, as per Kotak Wealth and Crisil Research, the number of ultra high net worth households in the country will triple to 219,000 in five years from 62,000 now. Ultra high net worth households is defined as those having 12 million (approx Rs 78 crore) or more now and 16 million (Rs 104 crore) after five years.

This newly launched device will be targetted for high net worth individuals who will be its potential customers. If they can wear Tag Heuer watches worth 2 to 10 lakhs then they will certainly feel elated to carry The Racer also.

Next could be luxury Tablet? Wait and Watch!

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