Swatch , the world 's . largest watchmaker unveiled its riposte to Apple 's smartwatch . It plans to put cheap . programmable chips in watches that will let wearers from China . to Chicago make payments with a swipe of the wrist . Swatch Group will start offering watches with near . field communication ( NFC ) chips within two months , said at a news conference on the company 's . annual results which were released last month . Scroll down for video . We 're coming for you Apple ! Swatch chief executive Nick Hayek said Apple 's launch was a 'fantastic opportunity ' for the Swiss watchmaker . 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 . Apple 's move into watches would open up a market where . Swatch was already well positioned to compete , he said . The Swiss company 's strategy appears to revolve around . including individual tech features in different models rather . than going head to head with Apple , the world 's most valuable . firm , to create all-in-one smartwatches combining many . functions . 'We are the world champions of integrating smart functions . into a watch , ' Hayek said . 'We do n't want to produce a mini . mobile phone on your wrist . Others can do that . ' At 1600 GMT , Swatch shares were up 2.7 percent at 432.1 . Swiss francs . Apple 's watch will go on sale in nine countries starting in . April , priced from $ 349 for the smaller model and $ 549 for the . standard version , although a high-end 'Edition ' watch will sell . for at least $ 10,000 . 'It 's a fantastic opportunity for us . It is opening the . market . 'Especially in the U.S. , many people are not wearing . watches any more . Somebody is opening this up . Let Apple do the . work . It 's fine . It 's good . I congratulate them . ' The new connected watch 'Swatch Touch Zero One'which will go on sale within months . Both firms ' strategies could co-exist and succeed , Hayek . said , before adding a dig at the bigger rival : 'Upgrading . software every year , that 's not our business . ' For its near-field chips , which will cost around 2 francs . ( $ 2 ) per watch , Swatch has teamed up with China UnionPay , the . Chinese credit card association , as well as a Swiss bank and a. major credit card company . The credit card company , described as an Olympics sponsor , . is likely to be Visa , a long-time backer of the event . Visa was not immediately available to comment . Swatch is also launching a range of sports-themed 'Swatch . Touch ' smartwatches which will be able to 'buddy up ' with a. smartphone via a Bluetooth connection . The first model will retail at 135 francs , about twice the . cost of a regular Swatch watch with an NFC chip .
Swatch will use low cost NFC chips to add payment capabilities to watch . CEO Andrew Sheehy said Apple 's launch was a 'fantastic opportunity ' Refused to reveal details of watch - which will be on sale in two months .