A study by the US technology market analytics portal Strategy Analytics on ‘wearable’ devices states that Apple Watch’s sales in 2019 exceeded those of the entire Swiss watch industry.
After the advent of tablets, smart watches were also very successful. In 2015, Apple’s watch arrived and was a big seller, gradually adding more features.
Although Apple no longer publishes exact sales figures, according to this research Cupertino’s sold 30.7 million units worldwide last year, 36% more than in 2018, when 22.5 million smartwatches were sold.
Meanwhile, all the Swiss companies together sold ‘only’ 21.1 million watches in 2019, down 13 per cent from the previous year when 24.2 million were sold.
The problem for the Swiss watch industry may lie precisely in its veteran status: “Traditional Swiss watch manufacturers like Swatch and Tissot are losing the war against smart watches. Apple Watch offers a better product through deeper retail channels and attracts younger consumers, who want it more and more. Time may be running out for Swatch, Tissot, TAG Heuer and other watch companies,” they say from the platform that conducted the study.
“Traditional watches are still popular with older consumers, but younger buyers are opting for smart, computerized watches on their wrists,” they add.
In its Q1 2020 earnings report, Apple had $10 billion in revenue in its wearables, home and accessories category – a significant 36.97 percent increase – surpassing Mac for the first time.