ZURICH (Reuters) – The Swiss watch industry is facing an increased threat from a new Apple Watch that is able to detect heart problems that are likely to appeal to older customers, industry experts said on Thursday.
Jeff Williams, Chief Operating Officer in Apple, talks about the new Apple Watch Series 4 at an Apple Inc product launch event at Steve Jobs Theater in Cupertino, California, USA, September 1
"Far from just being an evolution, the new Apple Watch 4 is probably a revolution because it's not just aimed at the nerves wrist but also by people over 45 who care about their health," expert expert Gregory Pons said. his clock website businessmontres.com.
Apple has quickly gained its share of the online market, with its technology consulting company CCS Insight, estimated that the technology giant will come close this year to take care of worldwide sales of Swiss clocks, which had 24 million units in 2017.
Exports of Swiss watches in the entry price segment – a retail price of up to $ 500 – has evenly decreased in recent years, with the competition from smartwatches one of the factors responsible.
Trademarks in this price range include Swatch Group's Swatch and Tissot, Mondaine brand and fashion watches made by US watchmaker Fossil.
"Apple Watch continues to improve and provide further relevant features. I think this will pose a more difficult and challenging challenge for Swiss-made watches, which are unable to remain relevant," says analyst Luca Solca, expert in BNP Paribas .
Apple Watch Series 4 is priced at $ 399.
The head of the LVMH clock department, which makes watches under the brands Zenith, Hublot and TAG-Heuer, Jean-Claude Biver, believed that Apple Watch did not pose a threat to Swiss watches. over a certain price point.
People who arrive in clocks thanks to an Apple product were more likely to buy a Swiss clock later, he said in emails.
Richemont shares increased by 0.2 percent in 1315 GMT, while the Peer Swatch Group, which is more exposed to the entry price segment, was down 0.6 percent.
Shares of Fitness Device Rival Fitbit Inc. fell 6.9 percent after the 4-year announcement Wednesday.
Reporting of Silke Koltrow Itz; Editing Keith Weir