Nike to launch new smart watch in first half of 2014

Is the successor to Nike+SportsWatch on the way?

Nike will launch a new smartwatch in the first six months of 2014, according to reports.

The sportswear company is reportedly preparing a new smartwatch, as a follow up to the Nike+SportsWatch and Fuelband SE.

Sources in Taiwan's supply chain told Digitimes that the smartwatch will be launched in the first half of next year.

It is unclear whether the smartwatch would be a follow up to the Nike+SportsWatch, Fuelband SE or whether it will be a new product altogether.

Nike last launched an update to its Nike+SportsWatch in 2011, so we'd guess that is the prime suspect.

According to Digitimes, the device is currently under trial production at Flextronics.

The sports giant has been one of the leading names in wearable technology.

Rival Adidas recently launched its first smartwatch, the miCoach Smart Run. It is twice the price of Nike's entry level Fuelband SE, but unlike the Fuelband, supports Windows Phone 8 and Android, as well as iOS.

Last month, Nike rival Samsung claimed that it had shipped 800,000 Galaxy Gear smartwatches. It is unclear how many of the device – which was panned by critics –have actually been bought by consumers.

Wearable technology is expected to be big business next year.

Research firm Canalys has predicted that five million smart watches will be sold in 2014. This is up tenfold from the 500,000 smartwatches it predicts will be sold this year.