Intel has announced at the CES 2014, initiatives to go beyond the PC market and enter into strategic partnerships with other companies to develop next-generation wearable technology.

The PC industry is declining at a very rapid pace and reports suggest that tablets will overtake PC shipments by 2015. In a bid to sustain itself in the technology market, Intel is also diversifying its reach and is focusing on wearable technology in the near term.

Chipmaker Intel, leading international fashion design house Opening Ceremony, luxury retailer Barneys New York and the Council of Fashion Designers of America announced, Monday, Jan. 6, collaborations to discover and deliver smart wearable technology.

"The collaborations we announced today are indicative of Intel's collective and conscious approach to the wearable market," said Ayse Ildeniz, vice president, Business Development and Strategy of Intel's New Devices Group. "Through these initiatives we will combine Intel's leading technologies with Opening Ceremony's design prowess, Barneys New York's track record to identify the next consumer trends, and CFDA's commitment to advance innovation within the fashion industry. Our shared vision is to accelerate wearable technology innovation and create products that both enhance peoples' lives and are desirable to wear."

Brian Krzanich, Intel's CEO, said that the company is actively pursuing a range of products and initiatives, with the aim of fast-tracking wearable device innovation. Intel's combined efforts with Opening Ceremony are intended to collaborate in the design of a smart bracelet concept. Intel will contribute to the technology of the bracelet while Opening Ceremony will be responsible for the design of the wearable gadget.

"Humberto and I have always allowed our curiosity to take us to uncharted waters. Since our early travels and shopping sprees in Asia, we've been keen on discovery," said Carol Lim, co-owner of Opening Ceremony. "This is an incredibly exciting and unique opportunity with Intel to bring our design vision to a wearable accessory that collides with Intel's state of the art innovation with fashion. We are diving in to embark on a journey with Intel and can't wait to see where it will take us. Intel is a company that has powered our lives in countless ways and now we get to be a part of shaping the 21st century with them."

Barneys New York will carry the smart bracelet made by Intel and Opening Ceremony.

Apart from the bracelet, Intel showcased a Bluetooth earpiece and microphone that the company says will improve the responsiveness of personal assistant software such as Apple's Siri. Krzanich also showed off a smartwatch, which is meant for kids, with the "geo-fencing" feature. Geo-fencing sends out alert to parents if their children divert from established walking routes to and from home or school.

Intel also unveiled Edison, a quark computer smaller than an SD card for wearable devices beyond just smartwatches, smart glasses and simple health monitors.

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