APPLE WATCH — Vanity project and gateway to the future…

I’m going to be blunt, the Apple Watch serves two purposes and neither of them is to be the best smart watch on the market.

The first is to appease Sir Jony Ive, senior vice-president of design at Apple and famed designer of the iMac, iPod, iPhone and iPad. Since the passing of Steve Jobs, Ive has taken the mantle as Apple’s rock star, adding a successful reimagining of the look and feel of iOS to his impressive list of accolades. With Apple becoming the most profitable company in the world, Ive is now untouchable.

The Apple Watch is his vanity project (seemingly confirmed by Apple’s senior vice-president Jeff Williams).

You see, Jony Ive is fascinated with the idea of luxury.

He’s previously spoken of his attraction to Vertu, a British smartphone company. Vertu makes ordinary phones but encrusts them with diamonds before selling them for tens of thousands of pounds. Considering the short life span of smartphones before the necessity to update to a newer model, this business-model challenges the assumption that consumer electronics can’t have the price point of luxury items.

The top-range Apple Watch, a solid gold ‘Edition’, retails in the UK for £13,500. This is a significant price jump from the Apple Mac, their previous top price item (at £3299). This huge price increase serves as Apple’s transition into the luxury market, the second purpose for the Apple Watch, setting the company up for the future.

Apple is reportedly investing heavily in the technology behind driverless cars. For the company to be able to do this viably, they need to have confidence in being able to sell products at a price closer to a car than a phone. Only time will tell…