Nick Hayek, CEO of the Swatch Group—the world's largest watchmaker—has stated that the company is currently not entering the smartwatch market, as consumer interest remains limited. He noted that there is little enthusiasm among consumers for smartwatches, which has led the company to take a wait-and-see approach. Rumors have been circulating that after Samsung and LG, Apple is also planning to launch its own smartwatch. However, these reports haven’t prompted any immediate action from Swatch. Hayek said, “You won’t see us launching the first batch of smartwatches. Consumers still have a lot of resistance, so we will continue to observe.” Despite this, Hayek emphasized that Swatch possesses all the necessary technology to develop a smartwatch. Instead of rushing into the market, the company is taking a more low-key approach by selling smartwatch components to OTHER manufacturers. While he didn’t name specific companies, he mentioned that it includes a U.S.-based fitness band manufacturer. Analysts estimate that the sale of smartwatch components could boost Swatch’s revenue by up to $222 million. If demand for smartwatches increases significantly, Hayek said Swatch would consider joining the market, leveraging its extensive global sales network. “I believe in smartwatches, but they won’t replace traditional watches,” he added. “If the smart wrist device market really takes off, we will enter.” Swatch is aware of the risks involved in entering new markets. A few years ago, it partnered with Microsoft to launch the Paparazzi, a wireless data watch that offered real-time news, sports updates, weather, and stock prices via MSN Direct. However, the product did not achieve long-term success. In recent financial news, Swatch’s shares rose 0.5% in Zurich, Switzerland, following the release of the report. This year, the company’s stock has dropped by 10%, marking the first annual decline since 2011. Analysts from RBC Capital Markets predict that Apple could generate up to $11 billion in annual revenue from smartwatches. UBS analysts also expect Apple to introduce its smartwatch by the end of the year. However, Apple has not commented on its product plans. As the smartwatch market continues to evolve, Swatch remains cautious but open to future opportunities, balancing innovation with its legacy in the traditional watch industry.

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