2019 has proven to be the year that witnessed the dethroning of Swiss classic watches. The Swiss watch industry that for ages has stood unchallenged has witnessed itself getting outsold to technology in 2019. According to a report from Strategy Analytics, the number of Apple Watches sold in 2019 were greater than the number of watches sold by the entire Swiss watch industry combined. According to the report, Apple managed to sell 30.7 million unites of Apple Watch during 2019, while all Swiss watch brands combined managed to sell 21.1 million watches.
Apple released its first smartwatch back in 2014 and has since created a threat to the traditional watchmakers in Switzerland who have solely relied on class for ages now. The report states that the young buyers are opting for smartwatches more than the traditional analogue watches, which is apparently the choice of old people. The Swiss watch brands like Tag Heuer and Tissot are apparently late to create a smartwatch that can beat the Apple Watch in the coming days. The Swiss watch exports experienced a downfall of 13 per cent year-on-year in 2019, another number that sounds more like a warning bell to the Swiss watch companies. Despite the fall in sales numbers, Apple Watch may not generate more revenue for Apple than the analogue watches do for their respective Swiss watch makers.
Talking about Apple, the company was fined recently by French government for releasing a patch that slows down iPhone SE, iPhone 7, and iPhone 6 that have a depleted battery and not informing the users that the patch was slowing down their phones. The patch that was released back in 2017 could possible attract a fine of USD 27 million for Apple France’s Directorate General for Competition, Consumption and the Suppression of Fraud (DGCCRF).