The Apple Watch cements itself as the world’s most popular timepiece. The smartwatch outsold the entire Swiss watch industry in 2019.
According to research firm Strategy Analytics, Apple sold 31 million units worldwide, compared to the entire Swiss watch industry which sold 21 million units.
There are no doubts that the Apple Watch is the most popular smartwatch by far, compared to its Android counterparts. But it does not mean the Swiss watch industry is in dire straights, nor does it mean wearables will replace luxury timepieces.
Sales figures alone do not tell the whole story. Analysts are quick to point out that Swiss watches are usually twice as expensive as an Apple Watch. So in terms of income, the Swiss watch industry actually made more money than Apple on this space.
Further, the Apple Watch is more for a broader customer base because of its convenience and applications like health and wellness. Swiss watches, on the other hand, are more for luxury market who enjoy affluence and status.