Swatch has been one of the biggest names in watches since the early 80s, and plans for things to stay that way with the upcoming development of smartwatches. Rather than viewing such technology as a threat, Swatch has chosen to embrace the smartwatch by building its own product. Called the Swatch Touch, slated for a release sometime next summer.
Rumors about Apple (News - Alert) potentially being only moments away from announcing an “iWatch” product have caused Swatch shares to drop by nearly 15 percent this year, yet Swatch plans on holding strong on their own to develop a smartwatch without the assistance of outside developers.
Acording to Swatch Chief Executive Nick Hayek, “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.” Hayek also claims that the new Swatch Touch is likely to have a variety of groundbreaking features, such as a fitness-minded step counter that would tell a wearer how many calories they've burned so far.
Many analysts expected that a merger between Swatch and Apple would create a smartwatch “dream team,” but this will not be the case. Essentially, Swatch wants to create a smartwatch that functions as a watch first and foremost and a wearable as a secondary function. Partnering with other technology groups has the potential to taint that vision and create an entirely different product. While this may be more profitable, it does not line up with Swatch's ultimate intentions.
And so far, Swatch may have a good point. So far, no smartwatch company has made a product with the right combination of features to convince consumers to purchase them en masse. Despite intense competition, these companies have so far failed to achieve widespread popularity, so finding a completely new formula may be key to Swatch's smartwatch success.
Edited by Maurice Nagle
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