Wearable tech market worth £104.7 million by Christmas

The wearable tech market is set to be worth £104.7 million by Christmas, according to Samsung.

The tech firm predicts that 2014 will be the year that wearables make an impact in the market, with the UK, Spain, Germany and the Netherlands expected to hit £924.2 million by the end of the year.

Overall, the UK market is expected to total £313.6 million by the end of 2014, with Christmas sales making a huge impact.

In the UK, fitness devices are expected to be the most popular wearable among customers, accounting for almost £29 million of the total £104.7 million predicted spend on wearables this Christmas.

Smart watches and healthcare devices are also predicted to account for £25.04 million and £22.01 million respectively.

Andy Griffiths, president of Samsung UK & Ireland, said: “The wearables market has exploded over the past 12 to 18 months with some incredibly exciting and innovative products entering the market.

“As the benefits wearable technology can offer become better understood, it is natural that the sales within this sector will grow.”

Samsung has also revealed two new smatphones, the Galaxy A5 and A3, two new metallic devices the firm calls its ‘slimmest smartphones to date’.