As expected, Greg Mckelvey, Intel EVP of chief strategy has confirmed that the chipmaker has tied the knot with watchmaker Fossil.

Greg spent a lot of time talking about the Fossil brand and mentioned that it accounts for about 80 percent of revenue in the US watch market. Greg noted that 1 out of 5 watches sold in the US come from Fossil and there is an opportunity that watchmaker can win even more market share with Intel powered wearables.

We were somewhat disappointed that there were no smartwatch announcements today, but the technology probably isn’t ready. Intel hinted that there will be some wearables, probably watches, powered by Intel technology in the not so distant future.

Wearables are a taking up substantial amount of time at this year’s IDF. There is talk of Fusion Biosoft headphones with integrated heart monitors and of cores designed for Internet of Things (IoT) devices. We wish this strategy can translate into profits for Intel instead of just showing an Intel powered bracelet at fashion week in New York.

So far Intel has made a lot of noise about wearables, but we still don’t know when to expect the first consumer products.