It may only represent a small percentage of Apple’s revenue, but the Apple Watch has already beat the entire Swiss watch industry by a large margin, according to Strategy Analytics.
According to the press release, Steven Waltzer, Senior Analyst at Strategy Analytics, said, “We estimate Apple Watch shipped 30.7 million units worldwide in 2019, growing a healthy 36 percent from 22.5 million in 2018. A blend of attractive design, user-friendly tech and sticky apps makes the Apple Watch wildly popular in North America, Western Europe and Asia.”
In contrast, the entire Swiss watch industry only shipped 21.1 million units in 2019, a 13% decline from 2018. Strategy Analytics chalked this up to Apple delivering a better product.
“Traditional Swiss watch makers, like Swatch and Tissot, are losing the smartwatch wars,” Waltzer added. “Apple Watch is delivering a better product through deeper retail channels and appealing to younger consumers who increasingly want digital wristwear. The window for Swiss watch brands to make an impact in smartwatches is closing. Time may be running out for Swatch, Tissot, TAG Heuer, and others.”
In view of this report, it’s little wonder Jefferies analyst Kyle McNealy is predicting 2020 will be a “breakout year” for Apple wearables.