Report claims Swatch and Timex partnering up on iWatch, but don’t count on it (Update: Swatch denies)

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Swatch’s design style clearly reflects Apple’s clean, uncluttered aesthetic

Update: Swatch has denied the claim, in a statement to Reuters.

A new rumor that popped up today from VentureBeat claims that Apple is working with Swatch and Timex to create different styles of its upcoming iWatch. The rumor puts Apple’s wearable plans in-line with Google’s: the Mountain View company makes the Android Wear software that powers hardware from a variety of vendors.

While it’s true that Swatch teamed up with Microsoft to create an ill-fated smart watch in 2004, it doesn’t seem likely that Apple is poised to join forces with any third party to create its own entry to this market. Here’s why…

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Swatch CEO on rumored iWatch sounds a lot like Palm CEO before iPhone destroyed it

Nick Hayek, CEO of Swiss watchmaker Swatch, said today during a press conference for the company’s annual results that he doesn’t see a smart watch product from Apple being the “next revolution.” We can’t help but be reminded of Palm CEO Ed Colligan’s comments before the iPhone hit:

“We’ve learned and struggled for a few years here figuring out how to make a decent phone,” Ed Colligan apparently laughed about with John Markoff last Thursday morning. “PC guys are not going to just figure this out. They’re not going to just walk in.”

Hayek’s main reasoning is difficulty delivering compelling content on such a small display, something the company has explored with its Paparazzi line of watches in collaboration with Microsoft:

“Personally, I don’t believe it’s the next revolution,” the chief of the largest Swiss watchmaker said at a press conference on annual results in Grenchen, Switzerland. “Replacing an iPhone with an interactive terminal on your wrist is difficult. You can’t have an immense display.”

Hayek also reasoned that consumers often buy watches as a piece of jewelry and like to change them on any given day. The CEO claimed that Swatch has had talks with Apple over the years regarding “materials for products and so-called energy harvesting technology that would generate energy from physical movement.” Bloomberg reported earlier this year that Apple had a team of over 100 product designers working on a wristwatch-like device and more recently said Apple would launch its watch product some time this year.

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