Swatch Denies It's Working On The iWatch, But It Has Offered Apple Advice 'Over Many Years'

A VentureBeat report on Wednesday said Apple was partnering with the Swiss watch manufacturer Swatch to "release a line of smartwatches in a variety of branded styles and price points."

Swatch, however, denies the report.

"Swatch is not working with Apple on smartwatches," the company said in a statement.

Still, the lack of a partnership does not preclude Swatch from offering advice to Apple when it comes to its own smartwatch project.

As Re/code points out, Swatch CEO Nick Hayek last year acknowledged to Bloomberg that he and his company had "contact with Apple over many years about materials for products and so-called energy harvesting technology that would generate energy from physical movement."

So Apple and Swatch aren't officially building the iWatch together, but considering how The Swatch Group is the largest watchmaker in the world, we may see some of Swatch's variety and creativity rub off on Apple when it launches its first smartwatch this fall.

Apple's iWatch is said to be more of a fitness wristband that runs on Apple's mobile operating system iOS, conforms to one's wrist, and can connect to nearby iPhones, iPads and Mac computers.