Victorinox to reveal Smart Watch

Remember back when Apple launched the iPhone, and literally every phone company and their mother was trying to find a way to keep up by coming up with their own smartphones? Well, it looks like watch retailers are falling in the phone companies footsteps. With the unveiling of the Apple smartwatch, Swiss knife maker Victorinox is the latest to announce that they will be entering the smartwatch market.

The Swiss army knife retailer is set to unveil their version of a smartwatch today. In addition to Victorinox, Swatch has also announced plans to release a smartwatch, as has luxury watch retailer Tag Heuer. “We’re looking … for the opportunity to expand the functions of our watches. But at the same time the watch must have a long lifespan compared to a mobile phone or a computer,” Victorinox Chief Executive Carl Elsener was quoted saying in Women's Wear Daily.

Victorinox seems to be trying to elevate its status in the watch world, having raised prices in January by ten percent. Although, this was a response to to Swiss franc's surge in January which the central bank abandoned its effort to put a cap on. Apple might be the first to dominate the smartwatch market, but, they will certainly be expecting some tough competition.