• The BoM cost of the LTE-capable Google Pixel Watch is estimated to be $123, which is a big leap from the previous Fitbit smartwatches.
• Samsung not only provides the highly integrated main chipset but also supplies the LTE transceiver and other paired components, collectively accounting for around 20% of the total BoM cost.
• BOE, which is the exclusive supplier of the smartwatch’s custom 1.2-inch-diameter OLED display, captures over 14% of the total BoM cost to rank second in terms of cost contribution.

The bill of materials (BoM) cost of the LTE-capable Google Pixel Watch is estimated to be $123, according to a BoM analysis by Counterpoint’s component research practice. As the first smartwatch built on the back of Google Wear OS and Fitbit OS, the Pixel Watch comes with a dual-processor solution. Compared to the previous Fitbit watches, which had a lightweight proprietary OS running on MCUs (microcontroller units) supplied by STMicroelectronics or Cypress, the new system is based on a high-performance processor to unleash the power of the latest Wear OS 3.5 and also features a co-processor or MCU to optimize battery life, which had been a competitive strength of Fitbit watches. The change not just introduces richer features but also results in a significant increase in the BoM cost.

Google Pixel Watch BoM Cost Structure by Function

Source: Counterpoint’s BoM Analysis Service

Note: Figures may not add up to 100% due to rounding.

Processing and Memory

Based on our BoM analysis, the Exynos 9110, manufactured at Samsung Foundry’s 10nm process node, is the main processor. It integrates a dual-core ARM Cortex-A53 CPU at 1.1GHz, a Mali-T720-based GPU and an LTE Cat.4 modem, which is paired with the audio codec and PMIC in the SIP-ePoP package. Thanks to the high integration, the layout of the 32mm-diameter PCB is not congested. However, the first-generation Pixel smartwatch would have delivered faster, smoother performance had Google built its system on the more advanced Exynos W920 platform.

The co-processor is NXP's MIMXRT595S. It is an Arm Cortex-M33-based MCU with DSP and GPU cores. The combined cost of the two processors and Kingstone 32GB+2GB ePoP memory accounts for nearly 27% of the total BoM cost.

Display subsystem

Another key functional block of the Google Pixel Watch is the 1.2-inch “Always-on” OLED display. It has a resolution of 450x450 dots or 320 ppi and supports up to 1000-nits brightness for a clear display in sunlight.

Above the screen is a custom 3D Corning glass (Gorilla Glass 5) which can save the model from waist-high drops.

Sensors

As a smartwatch with healthcare and fitness features, the Pixel Watch is equipped with multiple sensors, including a 6-axis inertial sensor and a digital compass (both from STMicroelectronics), an altimeter, an ambient light sensor (ALS) and a light encoder to enable the haptic crown.

In addition, the heart rate monitoring system consists of Texas Instruments’ analog front end (AFE) and three sets of infrared LED and photodetector, which is behind the ECG feature.

Connectivity and Cellular

The Pixel Watch delivers more independent-use experiences thanks to the support of LTE Cat 4 communication, which consists of Samsung's S915 transceiver, Skyworks' highly-integrated SKY53737 diversity receiver and SKY77643 multi-mode, multi-band PA module, Qorvo's antenna switch, and multiple duplexers from muRata.

Besides, the design also includes standalone GPS chip BCM47765 and Wi-Fi/Bluetooth combo BCM430132 from Broadcom, and STMicroelectronics’ ST54J1ATNN NFC chip to support eSIM and Google Pay.

Design wins: Samsung, BOE biggest beneficiaries

Samsung not only provides the highly integrated main chipset but also supplies the LTE transceiver and other paired components, collectively accounting for around 20% of the total BoM cost.

BOE, which is the exclusive supplier of the smartwatch’s custom 1.2-inch-diameter OLED display, captures over 14% of the total BoM cost to rank second in terms of cost contribution.

Conclusion

Thanks to the launch of the Pixel Watch, Google has managed to further expand its hardware portfolio under the Pixel family. The industry expects the move will help increase the popularity of the Wear OS ecosystem. But when compared with the current market leader, the Apple Watch series, which differentiates itself by leveraging the high integration of in-house hardware and software, and refined design, and accounts for approximately one-third of total shipments, there is still room for the Pixel Watch series to improve. Through the deep collaboration with Samsung, Google is likely to empower its next-generation Pixel Watch with a more powerful, integrated, intelligent and secure processing platform.

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