Tag Heuer to make Google-powered smartwatch

Tag Heuer enters the smartwatch market
Tag Heuer enters the smartwatch market

It's the ultimate status symbol for technophiles.

Google (GOOGL) and Intel (INTC) are partnering with Swiss watchmaker Tag Heuer on a new luxury smartwatch.

The companies said Thursday that they will release the connected watch by the end of the year. They did not disclose any details on the watch's functions or how much it would cost.

The watch will use Android Wear, a software developed by Google for smartwatches and other wearable devices. Its hardware will be designed by Intel.

Tag Heuer's watch will combine the latest wearable technology with the design aesthetics that Swiss watchmakers are famous for, said the watchmaker's CEO Jean-Claude Biver.

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"Swiss watchmaking and Silicon Valley is a marriage of technological innovation with watchmaking credibility," said Biver. "The potential for our three companies is enormous."

It's unclear if the new watch will be considered Swiss-made, given that key components will be imported. But Biver said the watch will be put together by Tag Heuer and could be branded as assembled in Switzerland.

The announcement comes weeks after Apple unveiled its own line of smartwatches, including a $10,000 18-karat gold luxury edition Apple Watch.

LG electronics and China's Huawei have also introduced high-end smartwatches aimed at tech-savvy and style-conscious consumers.

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