(Pocket-lint) - Tag Heuer CEO Jean-Claude Biver has said in an interview with German publication Neue Zürcher Zeitung that the company's Connected smartwatch was a lot more successful than expected. Tag Heuer thought it would only sell around 20,000 units but it in fact sold 56,000 units in 14 months.

It's a little surprising considering its £1,100 price tag, but it's justified by being a fantastic smartwatch with a gorgeous design. Biver also revealed details of the company's plans for a successor, and said a new model would arrive in May 2017. He said there wouldn't be many new features, other than a "payment function", which means it will have NFC built-in. Otherwise there will be more accurate GPS, a longer battery life, more powerful displays and generally better reception. Biver said there will also be smaller models for women and Asian markets, along with new colours and materials.

The Tag Heuer CEO also revealed that the company has set up an office at Intel's campus in Santa Clara in Silicon Valley, where it will be employ 8-12 people so it can be "close and know what's going on". The overall design and watchmaking will still be developed in Switzerland, but the technology and microprocessors will be developed with Intel.

And we don't have long to wait until Tag's new smartwatch, as Biver said it will be released in May 2017. It sounds like it will just as good, if not better than the current model. We can't wait.

Writing by Max Langridge.