Swatch plans fitness-based wristwatch

Swatch plans to equip its Swatch Touch line of plastic watches with electronic functions to measure personal fitness, in a bid to tap into the market for wearable gadgets, the company's CEO was quoted as saying in a Swiss newspaper.

He made his remarks after the firm denied working with Apple on a smartwatch project.

"Beginning in 2015, we will integrate fitness functions into Swatch Touch," Swatch CEO Nick Hayek told Sunday's Neue Zuercher Zeitung am Sonntag, a Swiss weekly.

"It will remain a watch, but will have all of today's usual functions to monitor physical fitness."