Smartwatch sales catch up to Swiss watch sales

More than 8.1 million smartwatches were shipped in the fourth quarter of 2015, while ‘only’ 7.9 million watches ‘made in Switzerland’ were sold in the same timeframe.

315.6 % growth thanks to Apple

The smartwatch branch’s growth is absolutely phenomenal, according to market research firm Strategy Analytics. Only 1.9 million smartwatches were sold in 2014’s fourth quarter, that grew to 8.1 million by the end of last year, a 315.6 % increase. At the same time, the Swiss watch market shrank, from 8.3 million in 2014 to 7.9 million in 2015, a 4.8 % drop. 

The smartwatch increase, which led to its first sales triumph over classical Swiss watches, is entirely thanks to Apple. Its Apple Watch had a 63 % market share in the past quarter, with a huge lead over South Korean Samsung, which has a 16 % market share. 

“The Swiss watch industry has been very slow to react to the development of smartwatches. The Swiss watch industry has been sticking its head in the sand and hoping smartwatches will go away. Swiss brands, like Tag Heuer, accounted for a tiny 1 percent of all smartwatches shipped globally during Q4 2015, and they are long way behind Apple, Samsung and other leaders in the high-growth smartwatch category”, Strategy Analytics director Neil Mawston said.