Freeze Tag, Inc. (OTCMKTS:FRZT) a pioneering developer of mobile social games, disclosed that it will soon introduce entertainment and games apps designed particularly for the new Apple Inc. (NASDAQ:AAPL) Watch.
The management view
Craig Holland of Freeze Tag said that the company has come with some unique games and apps that are ideal for Apple Watch. The company intend to create games that cross promote and extend the current mobile games and standalone apps and games that users can play exclusively on the Apple Watch. The industry of wearable is in an early stage and the company believes there is deep potential market to be penetrated in future.
The expert view
As per IDC, the wearable market, or the market of those firms capable of running third party apps is set to record strong gains in 2015. The group estimates 25.7 million of smart wearable to be sold in the year, up 510% from units sold last year. As per IDC report, Apple will dominate the smart wearable market with more than 15 million units sold. It indicates a massive 62% market share. As of now, the demand for the Smart wearable watch of Apple has surpassed supply. There are many users who want to buy Apple watch but have to wait for delivery.
As compared to the iPad/iPhone app store, which showcase millions of apps, the app store of Apple watch is not overcrowded yet. There are only a few thousand applications available. The most searched or popular segment, in terms of number of application is Utility. Freeze Tag stated that they will be releasing more information on specific games and apps developed for the smart Apple Watch in the coming period.
In last trading session, the stock price of FRZT declined more than 25% to close the trading session at $0.00510. The decline came at a share volume of 19.08 million compared to average share volume of 2.74 million.