Samsung Electronics Co. and Under Armour Inc. are expected to partner together as part of move to expand its footprint in the worldwide wearable devices market, reported the Yonhap News Agency in Seoul, South Korea.
“The outlook came as Lee Jay-yong, the de facto heir of Samsung Group, reportedly met Kelvin Plank, the founder and chief executive officer of Under Armour here earlier this month,” Yonhap reported. “During the meeting, they have reportedly discussed ways of countering impact from collaboration between Apple Inc. and Nike Inc. in the wearable devices sector. Such speculations also rose as Lee was witnessed wearing an Under Armour shirt during his visit to the Allen & Company Sun Valley Conference held last week at the U.S. state of Idaho.”
Neither company has confirmed the partnership, and Samsung has already entered the wearable market with the Galaxy Gear smartwatch it released last September. Apple is expected to release its first wearable device later this year, possibly in October. Under Armour entered the wearable market with its own Armour39 system last year.
However this plays out, expect to be awash in wearables by 2018, when spending is expected to reach $19 billion worldwide.