Chipmaker Intel recently announced that it is inking a partnership deal with eyewear company Luxottica.

The deal will allow Intel to use Luxottica's Oakley brand to launch the upcoming smart eyewear dubbed Radar Pace, a pair of smartglasses designed primarily for athletes.

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The upcoming product has several sensors that can track its user's heart rate and performance and features a real-time voice activated coaching system that can guide athletes through their training.

At the heart of Radar Pace is Intel's Real Speech voice recognition software, according to Fool. Users can use the Bluetooth-powered headset to make calls, dictate text messages and listen to music.

This is not Intel's first foray into the smart eyewear business.

It can be recalled that the company previously partnered with high-end retailer Opening Ceremony to develop MICA, a $1000 luxury bracelet. Intel has also partnered with Fossil in developing a series of fitness trackers and biometric earbuds. Intel also acquired smart wearable device manufacturer Basis Science and launched the Basis Peak smartwatch.

Many market analysts have agreed that Intel's growing attention towards the smart wearable market is part of the company's strategy to diversify its reach, especially now that the PC market is slowly deteriorating. Another reason cited by analysts is the growing gap between Intel and Qualcomm in the mobile and Internet of Things markets.

As for Luxottica, the deal with Intel is nothing more but a mild foray into the smart wearable market.

Luxottica controls around 80 percent of the eyewear market with its subsidiaries, such as Persol, Oakleyand Ray-Ban. Luxottica is also the licensed eyewear partner for major fashion brands like Ralph Lauren, Chanel and DKNY.

TagsIntel, Luxottica, Smartglass, Smart Glasses, Oakley, radar pace