In 2015, Apple launched its smartwatch and soon it became the best selling wearable smart device. In the second quarter of 2015 Apple almost sold 4.2 million units. Now it looks like Apple has finally put the Swiss watch industry to mortify.
According to statistics released by Research Firm Strategy Analytics, Apple smartwatch is not only beating the traditional watch makers by its shipment but also Apple is crushing the whole industry of Swiss watch. In 2019, Apple has successfully sold 31 million units on the other hand Swiss watch industry was able to sold almost 21 million units as a whole combining all the major brands like TAG Heuer and Swatch.
Executive director at Strategy Analytics, Neil Mawston, said “Among older consumers, Analog wristwatches last popular, however teenage buyers are tipping toward smartwatches and computerized wristwear” this makes a lot of sense because of these smartwatches there is a complete shift in the buying behavior among customers and also because of the digitization of everything around us makes it more of a need than a want.
According to Steven Waltzer, an analyst at strategy “Traditional Swiss watchmakers, such as Swatch and Tissot, are losing the wars of smartwatch. Apple Watch is providing an excellent product through different retail platforms and engaging teenagers who increasingly want digital watch. The screen for Swiss watch brands to make an effect in smartwatches is closing.”
These Swiss watchmakers were leading the market however now they remain famous among people that are not old and tech-savvy. Companies like Apple and Samsung are increasing their product every year which is why they are becoming more demanding for these Swiss companies to enter the smartwatch market. Apple watches are leading the market of smartwatch inspite of facing competition from other companies such as Samsung and Fitbit. These companies have improved their smartwatches overtime and the smartwatch industry is developing very quickly.
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