Swatch is set to launch its own smartwatch in April to take on the Apple Watch. The move will see the two firms go head to head in a battle for the lucrative market. Swatch boasts its watch won't need recharging - while Apple says its will have to be recharged every night. Scroll down for video . Swatch hit out at apple and Google's plans, saying 'Technology alone doesn't sell, not in watches.' 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. However, Swatch has not yet revealed the full capabilities of its watch. It says it sees the sees the advent of the $93billion smartwatches as an opportunity rather than a threat - and warned the tech giants they may face problems. The Swatch device will communicate via a form of technology known as NFC, according to Bloomberg,  and won’t have to be charged, Chief Executive Officer Nick Hayek said in an interview. The Swatch smartwatch will also let consumers make mobile payments and work with Windows and Android software, he said. The market for such timepieces, which enable phone or data communication, will probably reach about $10 billion in 2018, Citigroup Inc. analysts forecast last year, with half of the market coming from traditional watch wearers switching to the devices. Apple's Tim Cook also confirmed the firm's plan for Apple Watch were on track. 'Development for Apple watch is right on Schedule, and we intend to begin shipping in April,' he said. 'We can't wait for customers to experience it. My expectations are very high, I use it every day, love it and can't live without it.' Apple's watch goes on sale in April, Tim Cook recently confirmed. Swatch Chief Executive Nick Hayek said these new watches might allow the wearer to count the number of steps they take and calories they burn. And there will be a few other cool 'Swatchy' things on offer via latest Bluetooth technology, he said in an interview at the company's headquarters in Biel. 'All the big technology firms want to work with us and I don't rule out that we are or could be collaborating in some areas. But we can also do many things on our own.' Swatch Chief Executive Nick Hayek said these new watches might allow the wearer to count the number of steps they take and calories they burn. Wearable gadgets, such as smartwatches that allow users to connect to their phone to check emails, make calls or monitor their health, are expected to be the next big thing in the tech world and a potential threat to traditional wristwatch sales. 'For Swatch, this could mean a 2 percent hit to revenue and earnings before interest and tax for each 10 percent share that the iWatch was able to gain in its addressable market,' Bernstein analyst Mario Ortelli said in a study in July. Other tech companies are working on smartwatches. Google's Motorola is set to launch a Moto360 smartwatch next week in the United States. But the spotlight is on Apple after the company poached executives from the fashion, luxury and medtech (medical)industries and registered the trademark 'iWatch' in Japan. For many analysts, Swatch and Apple would be the dream team for a smartwatch project, but Swatch has always played down its interest in such a relationship. The argument is that Swatch's business is selling watches not technology. 'Our first message for customers is the watch. 'If they like it, they might also be interested in the extra functions,' Hayek said. 'It is a problem if you only define a product by its technology. 'Technology alone doesn't sell, not in watches.' His comments highlight the importance of fashion and branding for the development of the smartwatch business. '(Technology firms) that want to strike partnerships with us also want access to brands. 'They want (their products) to be more than a commodity,' the CEO said.
Firm will launch the Swatch Touch in April .
Will use low power NFC to communicate with a smartphone .
Both watches will also double as mobile payments devices .
Apple installing safes in stores ahead of April launch of its watch .
Swatch is set to launch its own smartwatch in April to take on the Apple Watch. The move will see the two firms go head to head in a battle for the lucrative market. Swatch boasts its watch won't need recharging - while Apple says its will have to be recharged every night. Scroll down for video . Swatch hit out at apple and Google's plans, saying 'Technology alone doesn't sell, not in watches.' 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. However, Swatch has not yet revealed the full capabilities of its watch. It says it sees the sees the advent of the $93billion smartwatches as an opportunity rather than a threat - and warned the tech giants they may face problems. The Swatch device will communicate via a form of technology known as NFC, according to Bloomberg, and won’t have to be charged, Chief Executive Officer Nick Hayek said in an interview. The Swatch smartwatch will also let consumers make mobile payments and work with Windows and Android software, he said. The market for such timepieces, which enable phone or data communication, will probably reach about $10 billion in 2018, Citigroup Inc. analysts forecast last year, with half of the market coming from traditional watch wearers switching to the devices. Apple's Tim Cook also confirmed the firm's plan for Apple Watch were on track. 'Development for Apple watch is right on Schedule, and we intend to begin shipping in April,' he said. 'We can't wait for customers to experience it. My expectations are very high, I use it every day, love it and can't live without it.' Apple's watch goes on sale in April, Tim Cook recently confirmed. Swatch Chief Executive Nick Hayek said these new watches might allow the wearer to count the number of steps they take and calories they burn. And there will be a few other cool 'Swatchy' things on offer via latest Bluetooth technology, he said in an interview at the company's headquarters in Biel. 'All the big technology firms want to work with us and I don't rule out that we are or could be collaborating in some areas. But we can also do many things on our own.' Swatch Chief Executive Nick Hayek said these new watches might allow the wearer to count the number of steps they take and calories they burn. Wearable gadgets, such as smartwatches that allow users to connect to their phone to check emails, make calls or monitor their health, are expected to be the next big thing in the tech world and a potential threat to traditional wristwatch sales. 'For Swatch, this could mean a 2 percent hit to revenue and earnings before interest and tax for each 10 percent share that the iWatch was able to gain in its addressable market,' Bernstein analyst Mario Ortelli said in a study in July. Other tech companies are working on smartwatches. Google's Motorola is set to launch a Moto360 smartwatch next week in the United States. But the spotlight is on Apple after the company poached executives from the fashion, luxury and medtech (medical)industries and registered the trademark 'iWatch' in Japan. For many analysts, Swatch and Apple would be the dream team for a smartwatch project, but Swatch has always played down its interest in such a relationship. The argument is that Swatch's business is selling watches not technology. 'Our first message for customers is the watch. 'If they like it, they might also be interested in the extra functions,' Hayek said. 'It is a problem if you only define a product by its technology. 'Technology alone doesn't sell, not in watches.' His comments highlight the importance of fashion and branding for the development of the smartwatch business. '(Technology firms) that want to strike partnerships with us also want access to brands. 'They want (their products) to be more than a commodity,' the CEO said.
capabilities of its watch. It says it sees the Swatch device will communicate via a form of technology known as NFC, according to Bloomberg, mobile payments and work with Windows and Android devices. Apple's Tim Cook also confirmed the it.' Apple's watch goes on sale in April, Tim