Bad news for those eagerly looking forward to the Swarovski smartwatch at Baselworld 2017 – the company has told Wareable that it's postponing the launch of its "smart device initiative".

The Swarovski smartwatch was announced at CES 2017, and was pitched as an Android Wear device for women. But it seems those looking for a taste of the new Android Wear 2.0 experience will be left waiting.

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In a statement given to Wareable, Robert Buchbauer, member of the Swarovski Executive Board said:

"Swarovski has decided to postpone its smart device initiative and will not present new smart device products at Baselworld 2017. Swarovski is simply not ready yet. We cannot yet make any statement regarding the timing of the launch."

But he was keen to rule out any criticism of Qualcomm and Google by adding:

"The cooperation with and technology provided by all partner companies have been outstanding. The postponement was purely driven by Swarovski's strive for excellence in execution."

The Swarovski smartwatch was unveiled during the Qualcomm press conference and looked to be packing the latest Snapdragon processor. We didn't actually get to see the smartwatch itself and no major details were revealed.

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Swarovski has already been involved in wearable tech, of course - albeit never with its own tech. It's teamed up with the likes of Samsung, Misfit, Polar and Huawei in the past for Swarovski editions of those brand's devices.

But it doesn't dampen what's been a vibrant revival for Android Wear. The Tag Heuer Connected Modular 45 has already landed (with a female version incoming), alongside the Huawei Watch 2 and LG Watch Sport.