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Apple Watch isn't the first smartwatch to be released, but it's already believed to have the same impact as the iPhone (which too wasn't the first smartphone), meaning it's expected to redefine its category.

But it seems that Apple's upcoming smartwatch won't have an impact just on the wearable devices. Speaking to Bloomberg, TAG Heuer CEO said that they are developing their own smartwatch to help stave off the impact of the upcoming Apple Watch. The executive believes the upcoming device poses the biggest threat for watches priced at less than $2,000.

Here's what the CEO said regarding their own upcoming smartwatch, which apparently won't get the 'Dwiss made' label:

"We can't produce the engine, the chips, the applications, the hardware — nobody can produce it in Switzerland. The hardware and the software will come from Silicon Valley. But the watch case, the dial, the design, the idea, the crown, that part of the watch will, of course, be Swiss."

Back when Apple first announced Apple Watch, the boss of TAG Heuer said the product "has no sex appeal" and "looks too much like the smartwatches already on the market." But this time it seems that he has changed his mind:

"It's a fantastic product, an incredible achievement. I'm not just living in the tradition and culture and the past, I also want to be connected to the future. The Apple Watch connects me to the future. My watch connects me to history, to eternity."

Source: Bloomberg