Swatch announces its plans to enter the smartwatch industry,competing against Apple Inc. (NASDAQ:AAPL) and Fitbit Inc (NYSE:FIT) for a piece of the highly lucrative industry.
Sourced through Scoop.it from: www.businessfinancenews.com
The Swiss luxury watchmaker is the latest contender in the smart watch battle. According to chief executive of Swatch Group, Nick Hayek, the company plans to introduce a new range of smartwatches. The news was first reported by Reuters, citing the Swiss newspaper Tages-Anzeiger . Swatch’s smartwatch will be called Touch Zero One. The company even expressed it plans to introduce further iterations of Touch Zero One, possibly all the way up to Zero Five, Zero Nine. The Swiss watchmaker is expected to unveil the Touch Zero Two at the 2016 Olympic Games, to be held in Rio de Janeiro. Swatch’s smartwatch also varies from the other two in terms of functionality; the Swiss watchmaker’s offering appears to focus primarily on incorporating individual tech features within different models- as opposed to Apple, which offers an all-in-one smartwatch, combining different function such as making calls, sending messages along with fitness tracking features. Swatch’s Touch Zero One’s features include aiding sportsmen, for example volleyball players, measure the intensity of their actions, and will also include other fitness tracking features, such as measuring distances. The Swiss watchmaker is even planning to introduce watches with embedded “near field communication” chips, later this year. This indicates that Swatch may be a more serious contender for Fitbit, whose offerings focus predominantly on fitness tracking, as opposed to the Apple Watch.