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Who's the big Swiss bunch that wants to take Sir Jony's lunch? It's... SWATCH!

SHOCKER: Watchmaker says it's building a watch

1980s fashion icon Swatch has confirmed it is working on a smartwatch.

The Swiss biz on Thursday said it will produce a wrist-puter that will include electronics for NFC payments. CEO Nick Hayek told shareholders the new model is set for an August launch in Switzerland and "one big country" that has yet to be named.

Other details on the device, including hardware specs and operating system, were not given.

Swatch, famous for its hit line of brightly colored wristwatches, has long been considering a move into the smartwatch market, though thus far it has stuck to regular watches. Back in February the biz said it would be looking to get into the wrist-puter game.

When Swatch's new piece of arm candy does arrive, it will have to compete with the Apple Watch and a few Android-powered strap-ons. The Cupertino giant has already released its Apple Watch to huge demand.

Last year, Apple design lord, er, Sir Jony Ive made things personal with Swatch when he said that the Apple Watch would destroy the Swiss economy.

Swatch would also have to fend off the growing line of Android martwatches, lead by consumer electronics giants such as Samsung and LG. ®

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