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Google is taking aim at Apple s smartwatch with some fancy wristcandy designed by Swiss watchmaker TAG Heuer and powered by an Intel processor.

In a product announcement at the Baselworld trade show in Switzerland Thursday, the three companies said the collaboration will create a product that is both luxurious and seamlessly connected to its wearer s daily life.

The watch will be released later in the year.

Apple has already announced its own watch, including a luxury version selling for more than $17,000.

Google said the collaboration signifies a new era of craftsmanship between Swiss watchmakers and Silicon Valley.

The watch will be designed and made by Tag Heuer. It runs on an Intel system on a chip using Google s Android Wear platform.

Google s David Singleton, director of engineering for Android Wear, said the team will bring a unique blend of emotion and innovation to the luxury market. Together, and using the Android Wear platform, we can imagine a better, beautiful, smarter watch.

Photo: Intel