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.
VentureBeat's source said that Apple has been working to with Swatch to release a line of smartwatches in a variety of styles and price points. More details can be found here.
JPMorgan analysts have said the report looks questionable because it would be surprising if Swatch launched products under its own brands to link them to Apple's applications.