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Last summer, Swatch confirmed plans to release its own smartwatch in the face of rising Apple Watch rumors. Now, a new report from Bloomberg reveals that the Swatch-made gadget could be a real contender in the wearables market.

According to Swatch CEO Nick Hayek, the new smartwatch will offer an Internet-connected experience "without having to be charged." We're not sure how the company plans to pull that off, but it could give it a huge edge over the competition. Most Android Wear devices need to be charged on a daily basis, while the upcoming Apple Watch might not even make it through a whole day.

Swatch has decades of experience developing watch technology, and the company could use small long-lasting bendable batteries to power its upcoming smartwatch. The Swiss firm adds that it's already developed sensors and display technology for the upcoming device as well.

Hayek says the Swatch smartwatch will also include some kind mobile payment support, and work with both Windows and Android devices. The new wearable is set to launch sometime in the next few months, and could be scheduled to arrive around the same time as the Apple Watch.