Cobra Electronics Corporation has set a date for launching its long-awaited Bluetooth tagging system, which the company says will enable people to keep track of their valuables such as wallet, laptop bag and car key.

If everything went as expected, the product will come on the market in July 2011, said the company, which demonstrated its tracker at the International Consumer Electronics Show (CES (News - Alert)) in January this year.

Known as Cobra Tag, the tracker consists of a smartphone app and Bluetooth technology. Users download the Cobra Tag app to their smartphone and attach the Cobra Tag device to the item they wish to protect, such as car keys, purse, or laptop bag.

nce tagged, the system keeps monitoring the distance between the phone and tagged items and sounds alarms if they become separated.

The Cobra Tag, according to the company, is powered by Phone (News - Alert) Halo Technology.

“Cobra Tag is a versatile and brilliant little system for protecting our phones and just about anything else of value, and I think most consumers will find it to be an incredibly affordable investment in safety and peace-of-mind,” said Sally Washlow, senior vice president of marketing and sales for Cobra Electronics. 

Cobra is now showcasing Cobra Tag in International CTIA Wireless exhibition taking place at the Orange (News - Alert) County Convention Center in Orlando, Fla.

In addition, the Cobra Tag app can record the GPS location and the time of day the items became separated, and sends this information to a pre-configured contact list via e-mail, text message, or even to a linked Facebook (News - Alert) or Twitter account.

The Cobra Tag system also includes a handy two-way finder feature.  Pressing a button on the Cobra Tag key fob device will ring the paired smartphone, and a feature of the app can also help locate the tagged valuable.

Cobra will make its product available across United States with a retail price of $59.99. The app will run on Blackberry and Android operating systems as well.