A few days ago, there were rumors that Swatch is entering a partnership with Apple to collaborate on its iWatch project. The rumor turned out to be false after being denied by Swatch. The company further explained that the only business deal it had with a mobile manufacturing company is being its supplier of integrated circuits and other types of electronic parts.

To set the record straight, the company's chief executive announced that it plans to equip its line of Swatch Touch plastic watches with electronic capabilities that can measure the fitness rate of a person.

"Beginning in 2015, we will integrate fitness functions into Swatch Touch," says Nick Hayek, Chief Executive of Swatch. He adds that "It will remain a watch, but will have all today's usual functions to monitor physical fitness."

As per Hayek, the Swiss watch making company plans to update the touchscreen feature of its Swatch Touch line by adding sensors and other functions that would cater to athletes. The innovatively designed watch is scheduled to hit the store shelves at some time in the following year.

Even in the past, Swatch had always rejected partnerships that deal with smartwatches. The company is concerned on the implications brought by relying on other companies' software and applications. "We already have all the know-how, we do not need a partnership," says Hayek when asked about the rumored deal with Apple.

The Swatch Touch line is a touch-screen enabled wristwatch that was launched in 2011. It is said to have a limited number of functions which include date, time, alarm and chronograph. The watch is also water resistant, shock resistant, and is designed with quartz precision. The plastic glass display of the watch gives a unique look with its curved shape. The colored LCD shows Arabic numbers in a huge stylish font. Lastly, it features two time zones, finger-tap response, and sideway scrolling.

It should be noted that while several companies have already ventured into the wearable gadgets market, it took a while for the Swiss luxury watch maker to jump on the bandwagon. Now that the announcement has been made about the added new feature of the Swatch Touch, it seemed that the company is more than ready to have a face-off with its rivals. The news further confirms that it's indeed not entering into any partnerships with another company simply because it is making its own line of wearable gadgets.