Watch brand Swatch announced plans of producing a smartwatch

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.”

Watch-brand-Swatch-announced-plans-of-producing-a-smartwatch

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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