Intel is teaming-up with Fossil to develop wearable computing devices.

The collaboration comes as Intel tries to expand beyond the PC industry into new markets, including tablets and smartphones, as well as a growing wave of “smart” watches and other Internet-connected devices.

Fossil on its end will help Intel’s venture capital arm look for investments to accelerate innovation in wearable computing, Intel said in a statement.

Last year, the chip maker created the New Devices Group, with the mandate to “go off and investigate new opportunities and new devices,” and during this year’s CES Brian Krzanich, its CEO, showcased a number of potential future products including wearables.

The company has recently partnered with SMS Audio to bring smart, heart rate sensing earbuds to market, and is also working with fashion company Opening Ceremony on a “fashion-oriented bracelet with communications functions.”

Moreover, Intel has also acquired BASIS Science which makes advanced smart watch technology. Alas, their chips are still not found in a significant number of mobile devices, let along wearables.

[Via: MobileWorldLive]