Google Inc., Intel Corp and TAG Heuer S.A. will collaborate on a Swiss smartwatch in the latest entry of technology giants into the world of luxury fashion.

The watch, expected to hit the market this year, will use Intel and Android Wear technology.

“Swiss watchmaking and Silicon Valley is a marriage of technological innovation with watchmaking credibility,” said TAG Heuer Chief Executive Jean-Claude Biver.

Earlier this month Apple Inc. entered the world of high-end fashion with the launch of its hotly anticipated smartwatch, which costs $17,000 for the priciest version. The Apple Watch had begun to worry many Swiss watchmakers, as well as technology competitors hoping to keep up. The lowest-priced models start at about $350 and are seen eating into sales of the most-affordable Swiss watches.

Already, Frederique Constant SA and Mondaine Watch Ltd. have unveiled smartwatches to blunt Apple’s advance into fashion, which it announced with an advertising insert in Vogue.