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Swatch prefers go-it-alone route for smartwatch plans

31
Aug
2014

By Silke Koltrowitz BIEL (Switzerland) (Reuters) – Swatch Group is happy to go it alone with a launch next year of watches with smart features to compete with so-called wearable gadgets from the big tech companies, a market potentially worth $93 billion. 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. All the big technology firms want to work with us and I dont rule out that we are or could be collaborating in some areas. 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.

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