Apple Performs Better than Swiss Watch Manufacturers in 2019 Sales


Manage episode 257412685 series 2530089
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Apple’s smartwatch line outsold all Swiss watch brands in 2019, a report by market and consumer research company Strategy Analytics says. According to the report, Apple sold nearly 31 million units of its Apple Watch worldwide last year. This resulted in a 36% growth in the product’s global shipment. The number of Swiss watches shipped in the same year, on the other hand, fell by 13% as Swiss watchmakers sold only about 21 million timepieces. Strategy Analytics said the Apple Watch’s popularity in some major markets is due to its sleek design and foolproof technology, which appeal to younger consumers. After unveiling its first smartwatch six years ago, Apple has become a major threat to the watch industry in Switzerland. In 2017, the Apple Watch also dominated global watch sales, surpassing the combined sales of all Swiss watch manufacturers. As Apple continues to launch superior products, one Strategy Analytics senior analyst explained that Swiss watchmakers have very little time to keep up with the smartwatch industry. Amidst the tight competition in the smartwatch scene, some traditional Swiss watch manufacturers have recently produced their own smartwatches. One of these is Swiss luxury watchmaker Tag Heuer, which released a number of models, including one that sells for $180,000. According to Forbes, the goal of Swiss watch brands in creating their own smartwatch lines is not just to compete with the Apple Watch. Swiss watchmakers would like to stay in the game and remain relevant in the digital age.

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