Biggest drop in Swiss watch sales in 6 years

[Artdeco]

And mech watches begin their slow decline into obscurity, along with rotary dial phones and other outdated devices

https://sg.finance.yahoo.com/news/swiss-watch-exports-slide-china-105403278.html

Perhaps cuckoo clocks will make a resurgence soon

 

[Megatomic]

Loving my Moto 360, I get it. The Swiss watch makers will adapt. They'll go exclusively high-end to appeal to the wealthy segment of society, but at the mid-range they just can't compete.

 

[Anubis]

id bet this has very little to do with smart watches and everything to do with people just not wearing watched at all

 

[Artdeco]

Loving my Moto 360, I get it. The Swiss watch makers will adapt. They'll go exclusively high-end to appeal to the wealthy segment of society, but at the mid-range they just can't compete.

And theyll partner up with other manufactures or fabs with their own smartwatches.

 

[Megatomic]

Why now then? Cellphones have been replacing watches as timepieces for a long time, and this year the Apple Watch was released and last year it was Android Wear. Could be traction is finally being gained?

 

[EvilYoda]

Yes, the industry will shrink, absolutely. I'll continue to buy watches though, as will others. Not that I'm a part of it, but the rich will still see watches as a status symbol for a long time. It's an emotional, not practical, purchase.

 

[Oyeve]

I couldn't careless. I have a couple of dozen fine watches and haven't bought a new one for years. What I have now will last me for the 30 or so years I have left on this earth and then they will go to my son.

 

[Commodus]

It's hard to say for sure if smartwatches are directly responsible. This is more correlation than causation. However, it's not a secret that the smartwatch market took off this year, mostly thanks to the Apple Watch. That's going to dent the market for watches in that price range, especially now that there are smartwatches that are both relatively upscale (Apple Watch, Huawei Watch and the like) and designed for women.

I do think smartwatches aren't going to grow as quickly as smartphones, and it could be a long time (if ever) before they become the norm for wristwear. However, I don't buy the watch industry's claim that it's immune. Remember how Palm's CEO swore that "PC guys are not just going to walk in" to the smartphone business, only to see the iPhone come in and kill most of the mobile establishment (including Palm)? Yeah. My golden rule: if execs in any field go out of their way to insist that their conventional business is safe... that's just proof that it's going to be disrupted.

Looking forward to the day when Jaeger-LeCoultre or Patek Philippe is making a $20,000 Android Wear watch.

 

[poofyhairguy]

Looking forward to the day when Jaeger-LeCoultre or Patek Philippe is making a $20,000 Android Wear watch.

We aren't quite there yet, but Tag Heuer is getting in the game:

http://www.cnbc.com/2015/09/29/tag-heuer-to-unveil-1800-smartwatch-on-nov-9-ceo.html

 

[Compddd]

I hate wearing watches.

 

[dainthomas]

This has absolutely zero to do with smart watches (which are stupid). Like I need something else I have to remember to charge every 12 hours.

 

[Megatomic]

This has absolutely zero to do with smart watches (which are stupid). Like I need something else I have to remember to charge every 12 hours.

So what DOES it have to do with?

 

[vi edit]

I'm certain that "wearables" in general have made an impact on watches. Fitbits, garmins, apple watches, jawbones, moto 360, et al. You are talking 20 million+ devices that are taking real estate on a wrist where a watch used to be.

 

[Oyeve]

So what DOES it have to do with?

Hes mostly right in that the people who wear smartwatches probably never wore a traditional watch in the first place.

 

[Megatomic]

Hes mostly right in that the people who wear smartwatches probably never wore a traditional watch in the first place.

By traditional do you mean a Swiss timepiece or just any old watch? I used to wear a Seiko diving watch, now I wear a Moto 360. Am I atypical somehow?

 

[Red Storm]

The interesting thing for me is that smartwatches got me to wear traditional watches. Of course I'm never going to spend more than ~$200 on a nice watch - smart or no - so the effect only goes so far. Ultimately I'm going to favor a smartwatch over a regular watch, but I appreciate both now.

 

[Oyeve]

By traditional do you mean a Swiss timepiece or just any old watch? I used to wear a Seiko diving watch, now I wear a Moto 360. Am I atypical somehow?

Just any old watch. I myself have a Gear 2 (looking to get a Gear S2 soon) but own dozens of watches. Mostly Seiko and Citizen. Oldest and most valuable, ironically, is a 1960 Timex my granfather left to me after he died. Its a Timex but its solid gold. And it still works.

 

[Megatomic]

Oldest and most valuable, ironically, is a 1960 Timex my granfather left to me after he died. Its a Timex but its solid gold. And it still works.

Now that is pretty damn cool.

 

[dainthomas]

So what DOES it have to do with?

The decrease in number of people wearing traditional watches started long before smart watches.

 

[Graze]

I certainly would not cross shop a Swiss made watch for a smart watch.
Where I see one as a piece of fine art I see the other as something disposable.

 

[amyklai]

So smartwatches and Swiss watches flop simultaneously? That's interesting!

 

[foghorn67]

It won't last. Smart watches are moronic. Disclaimer, I have one and wear one daily.
They aren't repairable. Some don't even have swappable bands.
The battery will stop taking a charge. I don't want to buy one in a constant loop every few years. I already have to serve the phone, laptop and tablet gods. I don't need another thing to worship and pay homage to.
When this battery dies, back to the Seikos and Wenger's.

 

[Ns1]

Swiss watch exports posted the biggest quarterly export drop since 2009 in the third quarter as plummeting sales in Hong Kong and China spread to other Asian markets in September.

nope, this has nothing to do with China/HK's fledgling economies and anti-corruption measures, and everything to do with smart watches.

 

[AznAnarchy99]

I don't have a Swiss watch mainly because I can't afford the one I want.

 

[openwheel]

So more people are wasting money on smart watches instead of low to mid range watches. Nice, this is good news for those who actually have good taste in watches.