There’s a Chinese smartwatch manufacturer threatening Apple.
Well, not literally threatening, but threatening its business in the East.
How, you might wonder? This company says it has created a smartwatch with all the functionalities of the Apple Watch, and beyond, and it only costs one sixth the price of the Watch.
"Our product has all the functions Apple Watch has, and even surpasses them," said Zheng Yi, founder of a firm whose electronic watches can make phone calls, browse the Internet and play movies, Phys.org reports.
The main difference here is that his watch requires a SIM card, while the Apple Watch relies entirely on the iPhone.
His profits may lag behind the US tech giant, but Zheng told AFP he "started working on smart watches eight years ago, long before Apple".
Apple can be pleased with its status in China, as it’s an extremely popular company in the country which has very status-conscious consumers.
Even Yi thinks the Apple Watch is a great product, but he still believes his watch will do better.
"The Apple Watch is quite beautiful... but we are more rapid in delivering product, and much cheaper," said Zheng—who welcomes the Californian firm's entry into the market as "absolutely a good thing" that will raise customer awareness.
A staff of around 100 can produce 2,000 smartwatches each day, helping Zheng's firm Shenzhen YQT Electronics sell more than 50,000 units a month, he said.
On the other hand, Apple has already had several million orders worldwide for its watch.
The first retail consumers are set to receive their product on Friday.