Swatch, the world's . largest watchmaker unveiled its riposte to Apple's smartwatch. It plans to put cheap . programmable chips in watches that will let wearers from China . to Chicago make payments with a swipe of the wrist. Swatch Group will start offering watches with near . field communication (NFC) chips within two months, said at a news conference on the company's . annual results which were released last month. Scroll down for video . We're coming for you Apple! Swatch chief executive Nick Hayek said Apple's launch was a 'fantastic opportunity' for the Swiss watchmaker. The rewards are potentially huge for whoever comes up with a winning formula. Andrew Sheehy, chief analyst at Generator Research, sees the retail value of wearable Internet-connected devices at $93.1 billion by 2018, versus $4.1 billion in 2014, with smartwatches accounting for about two thirds of the market's value in 2018. Apple's move into watches would open up a market where . Swatch was already well positioned to compete, he said. The Swiss company's strategy appears to revolve around . including individual tech features in different models rather . than going head to head with Apple, the world's most valuable . firm, to create all-in-one smartwatches combining many . functions. 'We are the world champions of integrating smart functions . into a watch,' Hayek said. 'We don't want to produce a mini . mobile phone on your wrist. Others can do that.' At 1600 GMT, Swatch shares were up 2.7 percent at 432.1 . Swiss francs. Apple's watch will go on sale in nine countries starting in . April, priced from $349 for the smaller model and $549 for the . standard version, although a high-end 'Edition' watch will sell . for at least $10,000. 'It's a fantastic opportunity for us. It is opening the . market. 'Especially in the U.S., many people are not wearing . watches any more. Somebody is opening this up. Let Apple do the . work. It's fine. It's good. I congratulate them.' The new connected watch 'Swatch Touch Zero One'which will go on sale within months . Both firms' strategies could co-exist and succeed, Hayek . said, before adding a dig at the bigger rival: 'Upgrading . software every year, that's not our business.' For its near-field chips, which will cost around 2 francs . ($2) per watch, Swatch has teamed up with China UnionPay, the . Chinese credit card association, as well as a Swiss bank and a . major credit card company. The credit card company, described as an Olympics sponsor, . is likely to be Visa, a long-time backer of the event. Visa was not immediately available to comment. Swatch is also launching a range of sports-themed 'Swatch . Touch' smartwatches which will be able to 'buddy up' with a . smartphone via a Bluetooth connection. The first model will retail at 135 francs, about twice the . cost of a regular Swatch watch with an NFC chip.
Swatch will use low cost NFC chips to add payment capabilities to watch . CEO Nick Hayek said Apple's launch was a 'fantastic opportunity'
Refused to reveal details of watch - which will be on sale in two months .