I think we all know that the finest watches are from Switzerland, but isn’t it strange that Motorola, Samsung, LG, and now Apple have been working on smartwatches but big luxury and fashion groups like Richemont, LVMH, Guess, and Swatch haven’t been doing anything to compete? At least, not yet they haven’t…
My Source says that these companies absence from the smartwatch market has nothing to do with them not entering the market. As we discussed on a separate article on Swatch, they are working on smartwatches of their own.
I would imagine that the other companies that we mentioned are probably working on their on version of a smartwatch, but I have heard that Swatch is working a chip that allows users to make payments with a flick of the wrist. Yes, you heard me correctly, Swatch wants to get into the mobile payment game. This one will work with Apple or Google phones.
There is a similar strap that is being worked on by Montblanc, owned by Richemount. They announced in January the TimeWalker Urban Speed e-strap watch, which can combine a traditional mechanical watch with an interchangeable strap that has a Bluetooth connected device.
I think it will be interesting to see what the big Swiss watch companies will do to compete. I can’t help but wonder if, like a precision-crafted Swiss watch, will a smartwatch go up in value? The market is still very young.