Google is rolling out its own smartwatch

The Apple Watch has some serious competition.

TAG Heuer and Intel announced Thursday that they're teaming up with Google to create a new smartwatch. There isn't much detail yet about what the watch will look like, but it will run using Intel hardware and Google's Android Wear operating system.

Bloomberg reports that the watch will launch by the end of the year, and price points haven't been announced yet. The Apple Watch, meanwhile, goes on sale April 24 and starts at $349. Bloomberg also estimates that the Apple Watch will cause the global smartwatch market to rise from 4.6 million units sold last year to 28.1 million units this year.

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