Refusing to let rumors simmer for too long, on Thursday morning Swiss watchmaker Swatch Group stepped forward to clear up some rampant speculation about its alleged involvement with Apple's inaugural smartwatch.

Representatives for Swatch unequivocally say there is no truth to reports that the group is working with Apple on the so-called iWatch. The denial is a direct response to a report Wednesday from VentureBeat that specifically referenced Swatch as one of Apple's iWatch partners.

"A spokeswoman for Swatch Group said on Thursday the report was unfounded," Reuters reported this morning. "She said the only business relationship Swatch Group had with mobile phone makers was as a supplier of integrated circuits and other electronic components."

Of course, some had doubts all along -- even in the face of VentureBeat's story -- that Swatch would ever work with Apple on such a product. Just last year, MMi reported that the company's CEO didn't even sound too impressed with the concept for iWatch when asked to address the Apple smartwatch rumors.

Source: Reuters