“The Federation of the Swiss Watch Industry (FSWI) has announced today that for the first time since 2009 exports of traditional timepieces are down, and it looks like Apple Watch is to blame.
Wristwatch exports from Switzerland fell almost 9 percent between April and May, according to the FSWI numbers. The news comes on the heels of the launch of Apple Watch on April 24th, which combined with fluctuating currency markets to cause the industry’s first slump in over six years.
“Watch exports to the U.S. in the lower price segments could also have had some negative impact from the launch of the Apple Watch,” analyst Patrik Schwendimann told Bloomberg. The U.S. market might only grow by a low single-digit percentage this year, slowing down from 6 percent growth in 2014, he said.”
Just shows how much of an impact Apple has made from never selling a watch to gaining market share especially in the high profit margin area.
Source – http://www.cultofmac.com
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