Smartwatches Impact Watch Industry, But To What Degree?
The Federation of the Swiss Watch Industry posted export numbers that show a steep decline. Some say smartwatches are at least partially to blame.By Mikah Sargent | November 19, 2015
Remember when Swiss watchmakers and enthusiasts continually reminded us they weren't worried about smartwatches? One expert quoted by Business Insider said of the Apple Watch, "They are essentially transient products rather than items of enduring value." (Video via The Watch Gallery / CC BY 3.0)
Enduring value or not, it appears something has made a dent in Swiss watch exports. Bloomberg says the industry has suffered its biggest decline in six years, dropping 12 percent from the average for the month of October. (Video via The Watch Gallery / CC BY 3.0)
And most of that, according to the outlet, is because of a steep decline in shipments to Hong Kong, the industry's biggest market.