Dallas, Texas 11/28/2013 (Financialstrend) –Demand for new technology is ever on the rise and consumers will lap up any new device that is prefixed with “smart”. Every company works hard at innovation and their researchers and developers are always fine-tuning their grey cells to think about what new device they can develop and launch. Apple Inc (NASDAQ:AAPL) is known to be an innovation giant but of late has not been able to come up with any new device that could be considered groundbreaking and one that had the potential to hold mass appeal.
But now, there are rumors that Apple Inc (NASDAQ:AAPL) is coming up with a Smart TV. This particular information has been underscored by the fact that the Cupertino-based company has now acquired the Israeli startup, PrimeSense. This company is has gained some recognition for being the developer of Kinect for Microsoft Corporation (NASDAQ:MSFT). Apple Inc (NASDAQ:AAPL)’s Smart TV has been in the development stages for almost four years now and since that point of time, numerous companies caught up in the game and made their mark on the technology front.
Of course, it is not a lost opportunity for Apple Inc (NASDAQ:AAPL) but it goes without saying that the company will face an uphill task with matching up with the likes of Microsoft Corporation (NASDAQ:MSFT) and its Xbox One that has a host of Smart TV functions.
The software company does not restrict its usage only to the Xbox; it also interfaces with cable boxes and offers the TV functionality to Hulu users. Facial recognition, Skype video calling- you mention it, you have it. The fact that Apple Inc (NASDAQ:AAPL) has now acquired PrimeSense which is a Microsoft supplier, is a definite indication that the company wants to make a serious move into the Smart TV space.
With all these changes taking place, the company is also going full-steam ahead with the construction of its Cupertino 3.42 million sqft new office complex. The complex will stand in the spot where the former HP buildings stood near the Interstate 280 &Wolfe Road. The area is currently in demolition mode and many residents in the vicinity harbor mixed feelings about the project. Some people are concerned about the possible traffic impact once the project reaches completion. With no time being wasted on the project, the project is expected to be completed by mid- 2016.
Apart from the office space and R&D buildings that are being developed, the complex will also house a massive auditorium, a utility plant and a valet parking center in the parking structure. The structure now has all the necessary approvals from the Cupertino City Council and Apple Inc (NASDAQ:AAPL) is not wasting any time with getting the construction project off the ground.
The company seems set for a big change. Its new complex and innovation wake-up are working on parallel roads and this should help the company create some new inroads into the market. The company had lost some of its sheen of late and this should help it regain some of its lost momentum.