Swatch will introduce its own smartwatch in the next two to three months to compete with Apple and other competitors.

CNet reports the Swiss-made watch company has been around for decades, and originally its CEO Nick Hayek dismissed the idea of entering the smartwatch market. Now Hayek says Swatch smartwatches would deliver an "experience" to users that would set them apart from competitors.

Swatch already has some capabilities of smartwatches in their current watches. Bendable and thin batteries that are long lasting have already been implemented into Swatch watches, Bloomberg Business reported.

Additionally, Swatch's Tissot brand has had a touchscreen feature on its watches since 1999. Now the watches have altimeters, compasses and other sensors geared toward divers.

The smartwatch from Swatch will offer mobile payments and will work with Android and Windows software. No mention of the watch working with Apple's iOS software was made. In addition, Swatch's smartwatch will not have to be charged and will use NFC to communicate.

A spokesperson for Swatch delivered the following statement to CNet: "Swatch will launch a new generation of its Swatch smartwatch in the next two to three months. Functions will include communication, mobile payments at stores such as Migros and Coop, and applications that work with Windows and Android -- without having to be charged."

Hayek had expressed concern over smartwatches. He worried they would not be a "revolution" in the industry and said they were too small to communicate with. He also expressed worries over the batteries.

Now, Hayek is on board with the smartwatch. They have the technology and the capabilities to enter the wearable tech market.

"Hayek has always said they have relevant technology for a smartwatch -- sensors, display, battery -- and seems to be set to make the most if it. Better to have an option and a hand in this category than not to. Nobody can yet say how relevant smartwatches will be in the end," said Luca Solca, an analyst at Exane BNP Paribas.

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