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How Apple Watch Is Affecting the Swiss Watch Industry

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Feb. 21 2018, Published 1:24 p.m. ET

Apple sold more watches than the Swiss watch industry in 4Q17

According to Statista, based on Canalys data, Apple (AAPL) sold more smartwatches than the whole Swiss watch industry in 4Q17.  Canalys reported that Apple sold a whopping 8 million watches globally in 4Q17, while the Swiss watch industry sold 6.8 million, according to the Federation of the Swiss Watch Industry.

Whereas the December quarter tends to be Apple’s most important one, these numbers could reverse. This news also points to a trend. Regular watch sales are declining as people check the time on their smartphones, which give users more options. According to Statista, in 4Q16, Apple sold 6 million Apple Watches, while the Swiss industry sold 7 million.

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Apple Watches make up a minute portion of Apple’s total sales

Apple Watches are a part of Apple’s Other Products segment, which also includes Apple TV and Beats products. It made up only 6.2% of Apple’s revenue in fiscal 1Q18. If the decline in iPhone shipments continues over the next few quarters, Apple may need to look at other areas for growth, as iPhone revenue comprised 69.7% of Apple’s total revenue in fiscal 1Q18.

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