Swatch Group is planning to go into smartwatch industry, potentially competing with Apple Watch. The Swatch smartwatch will be operating on a NFC platform and the difference with the Apple Watch is that it does not have to be charged. On top of that the Swatch smartwatch will be able to support mobile payment feature and works with Windows and Android software.
Swatch has a long time experience in developing technology that able to support smartwatch such as long lasting batteries so thin that they can be bent. Apple smartwatch was having issue with its battery which is currently the company is fixing before the launch of the device. Swatch’s Tissot brand for example, is a product with touch screens since 1999 which is now also offering altimeter, a compass and sensors to record diver’s descent.
Swatch CEO Nick Hayek, did not planned to go to smartwatch industry two years ago. Since his concern is that the watch screens are too small for communication and it might need too much charging. However, recently, the CEO is planning to join the smartwatch industry which Citigroup analyze that it could hit $10 billion in annual sales by 2018.
Swatch is currently in talks with retailers on its payment system. The device is expected to be released in the market in the next two to three months.