NEW YORK (TheStreet) -- AT&T Inc. (T) said it will be the first U.S. wireless carrier to sell LG Electronics' smartwatch, a wrist watch that connects to Android phones and answers voice commands, and goes on sale on July 11, Reuters reports.
The LG "G Watch," made in partnership with Google (GOOGL), will sell for $229 and be available for pre-orders on July 8.
Juniper Research estimates the value of the wearable device market this year at $1.5 billion, up from $800 million in 2013.
Shares of AT&T are down -1.36% to $35.53 in pre-market trade.
TheStreet Ratings team rates AT&T INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate AT&T INC (T) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: