Swiss watch manufacturer Swatch plans to include smart functionality into a select line of products, but doesn't want to necessarily compete with Apple and other smartwatch makers. Instead, the company wants to pick select features to include in its "Swatch Touch" products - and leave other manufacturers to develop full lines of smart devices.
The company already accounts for 18 percent of total watch sales, according to industry studies, and doesn't want to be left behind as consumers look at smartwatches. Swatch wants to utilize near-field communication (NFC) and Bluetooth connectivity with its devices, hoping that wireless payments could be introduced later down the road.
"We are the world champions of integrating smart functions into a watch," said Nick Hayek, CEO of Swatch, in a statement published by Reuters. "We don't want to produce a mini mobile phone on your wrist. Others can do that."