Wristwatch maker Swatch plans to equip its Swatch Touch line with electronic functions to measure personal fitness by 2015, in an effort to tap into wearable device market.
The Swatch Touch is touch-screen enable wristwatch that was launched in 2011. The watch comes with a limited range of functions including alarm, time, chronograph, and date. Swatch has rejected partnerships over smartwatches in the past. Swatch Chief executive Hayek stated that the company is planning to use its own electronic components to ramp up the Swatch brand Touch.
Swatch Chief Executive Nick Hayek told Sunday’s Neue Zuercher Zeitung am Sonntag, a Swiss weekly. "Beginning in 2015, we will integrate fitness functions into Swatch Touch. It will remain a watch, but will have all today’s usual functions to monitor physical fitness.”
Last week Swatch denied reports that the company is working with Apple on a wearable device with interactive functions. A spokeswoman for Swatch Group stated that the report was unfounded and the only business relationship Swatch Group had is with mobile phone makers was as a supplier of integrated circuits and other electronic components.
The wearable device market is growing with Fitbit, Nike FeelBand, Samsung Gear Fit and Android Wear watches. Samsung has already launched its Gear Live and the iWatch is expected to be released in fall, the smartwatch wearable market is on the verge of a boom. According to reports spending on wearable electronics will reach $19 billion by 2020 and the total unit shipment is expected to cross 150 million units.
Source: Reuters
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