Yahoo Targets Growth Of Wearables, Other Mobile Devices: FT

(RTTNews) - Internet firm Yahoo Inc. (YHOO) is targeting the growth of wearables and other mobile devices to cash in on their expected exponential future growth, the Financial Times reported.

Quoting Adam Cahan, senior vice-president of mobile at Yahoo, the report said wearable devices like the Apple provide a big opportunity for the company next year, as new homes for existing apps as well as to create new user experiences.

Yahoo was part of Apple's launch of the Watch, which is expected to be out next year. The company is developing a version of its Yahoo News Digest for the wrist-sized screen.

Cahan reportedly said Yahoo was not restricting itself to one wearables maker and may create its own wearable in a rare entry into the hardware business.

YHOO closed at $ 50.86 on Friday, up 0.4 percent from the previous close.