Adidas Looks to Challenge Nike (NKE) in Sports Smartwatch Segment

What, them worry?

Nike (NYSE: NKE) watchers got a little nervous today as peer adidas unveiled its new fitness watch.

The adidas smartwatch will have a GPS connection, heart rate sensor, Bluetooth connectivity, onboard memory for music, and, we assume, a stopwatch function.

While this might seem like stiff competition for Nike, consider the proposed price for addidas' latest and greatest: $399. By comparison, Nike's new FuelBand is priced around $150.

As mentioned above, the adidas smartwatch won't require a smartphone to accompany you on your workout. So, the company included storage so you won't have to listen about what to listen to. Conversely, you'll either need Bluetooth headphones to experience that music since there probably won't be a standard headphone jack on the device.

Shares of Nike are up about 1 percent Wednesday.

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