Alphabet Inc. GOOG GOOGL recently unveiled the Pixel 7 smartphone series and the very first Pixel Watch. With Google’s entry into the smartwatch space, comparisons are being drawn with Apple Inc.'s AAPL long-standing product watch portfolio.

What Happened: Google unveiled its first wearable device rival to the Apple Watch by bringing together its acclaimed Pixel design strategy and fitness-tracking technologies acquired from Fitbit a couple of years ago.

Google is leaning into Apple’s strategy of personalization in terms of smartwatch bands and watch faces, albeit at a lower price, according to a report by Bloomberg’s Mark Gurman.

See Also: Good Luck Competing With Apple: Munster Sees Hard Time For Google's Pixel Watch

Why It’s Important: The regular Apple Watch Series 8 costs $399, whereas the Google Pixel Watch starts at $349 for devices without cellular capabilities, the report said.

The global smartwatch market witnessed a robust growth of 24% last year, with Apple at the forefront, data from Counterpoint Research revealed. 

Price Action: GOOGL closed Friday’s session 0.04% higher at $98.72, according to Benzinga Pro data. 

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