Swatch Touch touchscreen watch to take on Apple and Google
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Swatch is set to launch its own smartwatch next year in a bid to take on Apple and Google
The world's biggest watchmaker will unveil its new Swatch Touch next summer.
It says it sees the sees the advent of the $93billion smartwatches as an opportunity rather than a threat - and warned the tech giants they may face problems.
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Swatch hit out at apple and Google's plans, saying 'Technology alone doesn't sell, not in watches.'
Swatch Chief Executive Nick Hayek said these new watches might allow the wearer to count the number of steps they take and calories they burn.
And there will be a few other cool 'Swatchy' things on offer via latest Bluetooth technology, he said in an interview at the company's headquarters in Biel.
'All the big technology firms want to work with us and I don't rule out that we are or could be collaborating in some areas. But we can also do many things on our own.'
Wearable gadgets, such as smartwatches that allow users to connect to their phone to check emails, make calls or monitor their health, are expected to be the next big thing in the tech world and a potential threat to traditional wristwatch sales.
Apple Inc has just invited media to a 'special event' next month, fuelling speculation it might present a much-anticipated 'iWatch.'
The possibility of an iWatch launch is partly responsible for Swatch shares losing almost 15 percent so far this year, lagging a 3 percent rise in the European sector.
Swatch Chief Executive Nick Hayek said these new watches might allow the wearer to count the number of steps they take and calories they burn.
'For Swatch, this could mean a 2 percent hit to revenue and earnings before interest and tax for each 10 percent share that the iWatch was able to gain in its addressable market,' Bernstein analyst Mario Ortelli said in a study in July.
Other tech companies are working on smartwatches. Google's Motorola is set to launch a Moto360 smartwatch next week in the United States.
But the spotlight is on Apple after the company poached executives from the fashion, luxury and medtech (medical)industries and registered the trademark 'iWatch' in Japan.
For many analysts, Swatch and Apple would be the dream team for a smartwatch project, but Swatch has always played down its interest in such a relationship.
The argument is that Swatch's business is selling watches not technology.
Apple is expected to launch its smartwatch next week. This mockup by designer Martin Hajek shows what it could look like.
'Our first message for customers is the watch.
'If they like it, they might also be interested in the extra functions,' Hayek said.
'It is a problem if you only define a product by its technology.
'Technology alone doesn't sell, not in watches.'
His comments highlight the importance of fashion and branding for the development of the smartwatch business.
'(Technology firms) that want to strike partnerships with us also want access to brands.
'They want (their products) to be more than a commodity,' the CEO said.
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