Swatch Group reveals a tiny chip that will make the Internet of things faster.
Sales, profit and margins all decline, but the group expects a turnaround next year on the back on resurgent sales in China.
Investor scepticism is no deterrent to the watch conglomerate's venture into electrical vehicle batteries.
The Swatch Group fared badly in the first half of 2016, with profit hitting the lowest in seven years, though management remains confident.
The largest Swiss watchmaker announced a sharp fall in sales and 50 to 60 per cent drop in profits for the first half of 2016.