Swatch has been a name that has been known to produce the best watches that are differently priced. While it has been known to be one of the best companies for watches, however, it recently acknowledged that if finds it difficult to compete with Apple watches. In an official announcement,

As per the WSJ notes, the company that owns Tissot, Longinus and Omega officially said on record the company said that their main focus will be on the efforts that will be put into the models that are made from plastic which are low cost before it can officially make a move into brands which are more expensive.

If you look at it this will not be a smartwatch, it will look just like any dumb watch that has an embedded NFC chip for payment. It is believed that the company also has plans to not only make smartphone’s which are now end however also plan to launch it in Switzerland, Brazil and US.

Mr. Hayek, the CEO of swatch and also the son of Late Nicolas George Hayek, one of the co‐ founders of the company in his statement recently that the company does not plan to compete with Apple. While making his statement, he was seen wearing a scarf and plaid shirt, he was also seen with a pair of sunglasses from Swatch and was puffing on a cigar while he was sitting in the news conference. He said that company did not want to get into the sector that dealt with consumer electronics.

Apple and Swatch have not really made friends with each other. It is also believed that initially, apple was supposed to name the Apple Watch series as iWatch however due to the fact the company had trademarked the name iSwatch it could not happen.