Swatch, Swiss watchmaker, refused to go head-to-head with Apple in manufacturing a multifunctional computer that can be placed on the wrist. Instead, the company revealed that it would make simpler and focused smartwatches.

Swatch CEO Nick Hayek said that one of the main reasons why the idea of creating a multi-use computer as wrist watch was not considered was because of the battery life — Apple watches need to be charged once a day, Business Insider UK learned.

"The Apple watch is an interesting toy, but not a revolution," he told the Tages-Anzeiger, a Swiss newspaper.

"These devices, which all eat so much power that they last no longer than 24 hours without needing to be plugged in," he continued.

Swatch plans to create smartwatches with battery lives that will last for up to nine months. He added that the watches, which will start at 150 Swiss francs ($161), would be water-resistant similar in design with that of modern Swatch watches.

Another amazing thing about Swatch's future smartwatches is the NFC-enabled feature. This feature will make the device an alternative to credit card.

The company is now finalizing the details with their credit card industry partners, as per the report of The Guardian.

Meanwhile, Hayek confirmed that Touch Zero Two will be launched at the 2016 Olympic Games in Rio de Janeiro, according to Business Standard. The device is the successor of Touch Zero One, which can count steps and calories.

In terms of sales, the CEO confirmed that, so far, the company is doing well despite the bad exchange rate. The Market Watch has learned that the company is expecting to increase their sales by less than 10 percent this year.

Swatch sales in Germany, Italy, Thailand and Australia were reportedly up by 20 percent to 30 percent. There were reports that emerged online stating that the Biel-based company will be expanding its market to India.

The exact release date for Swatch's smartwatches is yet to be unveiled by the company.