smartwatch
New Samsung Gear 2 smartwatch is displayed at the Mobile World Congress in Barcelona February 23, 2014. Samsung Electronics unveiled a new smart watch and fitness band along with the latest version of its flagship Galaxy smartphone on Monday, demonstrating how the battleground for innovation is shifting from the hand to the wrist. Picture taken on February 23. REUTERS/Albert Gea REUTERS/Albert Gea

Come 2015 and it will be the time for the next big thing in terms of technology with the introduction of the wearable smartwatches. Apple, Motorola and Samsung have come up with their respective unique versions, as well as released their approximate prices and date of release. For those who want to just take a trial of the gadget, they can even go for 'Fastfox'.

The Apple Watch will sell at approximately $349 while Motorola can be owned by shelling off $249. Samsung's product will not be far behind starting at $199. Amid these gadgets, a Chinese company is offering its smartwatch for only $7.

This unbelievably low priced smart watch is named 'Fastfox'. It is made by a technological startup company, which claims that keeping simple software and minimum hardware played key roles behind their exorbitantly low price. This wearable gadget is expected to attract masses due to its glaringly lower price compared with its competitors.

Australian crowd-funding site Pozible will soon start featuring the said smart watches on its website, where the marketing campaign for the same has already started. As per the exclusive report by CNN, 100 watches are being offered at $7. Black strap watches can be availed at $8 and by spending $9, one can get the smart watch customised.

The campaign ends on Dec. 24. As of Saturday, it had raised more than 2029 supporters and the numbers are increasing every minute. 'Fastfox' makers believe that wearable gadgets are crucially useful, but their usually high prices are a great turn-off.

Like other smart watches, 'Fastfox' is also made to monitor the health and lifestyle of the user. Its built-in app keeps a tab on the calorie intake, as well as calorie shed by walking and running. The makers are claiming that the gadget is water resistant and weighs just 11 grams, making it light, comfortable and very convenient to wear.

The unique smart watch is also Android and IOS compatible, which enables it to sync with an Apple- or Android-enabled smart phone via Bluetooth to provide various add-on features. Besides keeping tabs on health, 'Fastfox' also offers dietary and fitness tips.