Swatch Group denies working with Apple on smartwatch

ZURICH, July 24 Thu Jul 24, 2014 7:30am EDT

ZURICH, July 24 (Reuters) - Swiss watchmaker Swatch Group has denied a media report saying it was working with technology company Apple on a smartwatch, a wearable device with interactive functions.

Technology website VentureBeat said in a report on Wednesday Apple was working with "at least one partner, Swatch" on a smartwatch project, citing an unnamed source.

A spokeswoman for Swatch Group said on Thursday the report was unfounded. She said the only business relationship Swatch Group had with mobile phone makers was as a supplier of integrated circuits and other electronic components.

Signs are mounting that Apple, which landed huge successes with its iPhone mobile phones and iPad tablets, is preparing the launch of an iWatch, following the commercialisation of smartwatches by rivals such as Samsung and LG Electronics. (Reporting by Silke Koltrowitz; Editing by Dale Hudson)

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