Intel, Fossil teaming up to build wearable computing devices

According to a Re/code report, chip giant Intel has said in a Friday announcement that it is working out a partnership with watches and fashion accessory retailer Fossil Group, to build wearable computing devices.

The disclosure of the collaboration between Intel and Fossil comes at a time when the chipmaker is undertaking efforts with the aim of expanding beyond the personal computer industry into new markets. The markets into which Intel plans to foray into include the tablet arena and the growing market for "smart" watches and other Internet-connected devices.

As per the details shared by Intel, the company's collaboration with Fossil will not only focus on technology-centric fashion products, but will also involve Fossil's assistance to Intel's venture capital division in terms of exploring investments for accelerating innovation in the wearable computing space.

However, it has not yet been specified by Intel or Fossil as to when they will launch their wearable project.

Meanwhile, Intel has already teamed up with design firm Opening Ceremony for launching a 'smart' fashion bracelet studded with semi-precious gems, and equipped with communications features and wireless charging.