The Apple Watch is putting Swiss watches on the ropes

apple watch range

La Federation of the Swiss Watch Industry (FSWI), has announced that for the first time from 2009, traditional Swiss watch exports are down, and it seems the Apple Watch is to blame.

Swiss wristwatch exports, fell almost 9 percent between April and May, according to the numbers of the Federation of the Swiss Watch Industry. The news comes just after the launch of the Apple Watch, the April 24, which combined with the fluctuation of the currency markets, has caused a first decline in the industry, in more than six years.

apple-watch

Swiss watch exports to the US., with a lower price margin, they could also have had some negative impact of the launch of the Apple watch. The United States market will only be able to grow, by a single digit percentage this year, which slows 6 percent growth in 2014, analyst Patrik Schwendimann told Bloomberg.

Swiss watches are not only exported to the US they are slowing down. The report shows a 34 percent decrease in Hong Kong, where Chinese consumers often buy Swiss watches, to take advantage of the lower taxes, which are paid.

Apple watches undoubtedly seem to be eating up a piece of the Swiss watch market, and if analysts are not wrong, this could get worse. Now on an Apple Watch, it has more functionalities, which give the exact time, in this world it is no longer required that only one hour and that it be beautiful, here we are in an increasingly technological world.


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