So the question of the next big thing seems to be, why would you need to have a watch and a phone? I have noticed that most of the younger generation, the ones with a smartphone, don't have a watch because the time is prominently displayed on the phone. One simple answer might be that a watch is still useful for when your hands are full, or swimming underwater, or when you are doing something that doesn't include pockets.
All of that being true, there seems to be a lot of companies trying to come out with a smart watch. These include Apple, Google and more recently an announcement from Microsoft that they are dusting off the idea from 2003. The concept is that the watch will talk to your phone and do some of what your phone does. I'm guessing that none of these will solve the waterproof-in-the-pool issue.
Here is the problem Dick Tracy faced. Never heard of him? He was a detective from the 1930s who had a watch that was essentially a communications device. So the concept is not a new one and various ideas have been tried already.
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