Watch brand Swatch have just announced plans of producing a smartwatch, and they're going to be working with a number of large technology companies – Apple being a possibility. CEO Nick Hayek was optimistic about the idea, stating:
“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. [Technology companies] that want to strike partnerships with us also want access to brands. They want [their products] to be more than a commodity. Our first message for customers is the watch. If they like it, they might also be interested in the extra functions,” Hayek continued. “It is a problem if you only define a product by its technology. Technology alone doesn’t sell, not in watches.”
The brand's smartwatch is to be called the Swatch Touch, which sources say uses Bluetooth to activate it's features. The product market is said to be worth $93 million.
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