Swatch prefers go-it-alone route for smartwatch plans

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. The world's biggest watchmaker, which sees the advent of smartwatches as an opportunity rather than a threat, will unveil its new Swatch Touch next summer.

Chief executive Nick Hayek said these new watches might allow the wearer to count the number of steps taken or calories burned, along with other cool "Swatchy" things on offer via latest Bluetooth technology.

“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,” he said

Apple has invited media to a "special event" next week, fuelling speculation it might present a much-anticipated iWatch. The possibility of an iWatch launch is partly responsible for Swatch shares losing almost 15 per cent so far this year, lagging a 3 per cent rise in the European sector.

Other tech companies are working on smartwatches. Google's Motorola is set to launch a Moto360 smartwatch next week in the United States.

For many analysts, Swatch and Apple would be the dream team for a smartwatch project, but Swatch has always played down its interest in such a relationship. The argument is that Swatch’s business is selling watches, not technology. – (Reuters)