The Swiss watch giant Swatch is developing its own smartwatch Operating System, which will rival the iOS and Android operating systems smartwatches.
In an interview on Thursday, Swatch Chief Executive Officer Nick Hayek said that the company’s Tissot brand will introduce a model around the end of 2018 that uses the Swiss-made system, which will also be able to connect small objects and wearables. The technology will need less battery power and it will protect data better, he said later at a press conference.
Swatch’s approach will work better because it’s trying to “think small” as one of the biggest problem for wearable devices is battery drainage, Hayek said, speaking at the Biel, Switzerland headquarters of Omega, another of 18 brands that Swatch produces.
“There’s a possibility for wearables to develop as a consumer product, but you have to miniaturize and have an independent operating system,” the CEO said.
Shares of Swatch rose 1.6 percent as of 2:20 p.m. in Zurich, giving the company a market value of 19.4 billion francs ($19.5 billion).
“I’m not convinced,” said Luca Solca, an analyst at Exane BNP Paribas who follows the luxury industry. “People use smartwatches expecting to use the same apps they have on their mobiles. A proprietary operating system defeats the object.”
Swatch’s approach will work better because it’s trying to “think small” as one of the biggest problem for wearable devices is battery drainage, Hayek said, speaking at the Biel, Switzerland headquarters of Omega, another of 18 brands that Swatch produces.
“There’s a possibility for wearables to develop as a consumer product, but you have to miniaturize and have an independent operating system,” the CEO said.
Shares of Swatch rose 1.6 percent as of 2:20 p.m. in Zurich, giving the company a market value of 19.4 billion francs ($19.5 billion).
“I’m not convinced,” said Luca Solca, an analyst at Exane BNP Paribas who follows the luxury industry. “People use smartwatches expecting to use the same apps they have on their mobiles. A proprietary operating system defeats the object.”
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