The name Switzerland is associated with the minds of many in the watch industry, which is one of the pillars of the economy of the small European country, but it seems that this sector is being hit hard by the company “Apple”.
The smartwatch produced by the American giant (Apple Watch) last year outperformed the Swiss watch industry, with an estimated 31 million units of smartwatches shipped worldwide.
According to recent economic analysis, “Apple” sold smartwatches, an increase of 10 million units for all sales of luxury Swiss brands of traditional watches, in 2019.
The analysis, whose results were published by “Sky News”, indicated that the old Swiss watchmaking is losing the war in the face of smartwatches from “Apple” and other companies, where smartwatches are receiving wider popularity.
And while Apple watch sales rose 36 percent last year, the Swiss watch industry suffered a 13 percent drop, according to the analysis.
Apple does not specify the number of sales of watches, wearable devices, or those used at home, but the total of these products achieved sales of $ 24.5 billion in 2019, an increase of 41 percent over the previous year, according to estimates.
Stephen Walzer, a chief analyst at Strategic Analytics, said that the Swiss watchmaking companies, including Swatch and Tissot, are no longer in the market because Apple offers a better product in the view of consumers.
“Traditional wristwatches are still popular with older consumers, but younger buyers are leaning toward smartwatches,” said research executive director Neil Mauston.
Apple smartwatches have swept the market since its release in 2017, but previously they sold more units than the entire Swiss watch in one quarter of the year, and not for a whole year.
