Apple Watch ushers in Ice Age for Swiss watchmakers

Yes, you heard it right, unless some dramatic realignments are made, Apple Watch might go on to seriously dent the market share of several competing brands, apart from taking on the market share of related products such as wristbands, fitness trackers, even drastically affect the business potential of most watchmakers in Switzerland.

According to the Federation of the Swiss Watch Industry(FSW), the country exported about $22.9 billion worth of watches in 2014, a 1.9 per cent increase from 2013.

It is being estimated that Apple could sell anywhere between 15 to 20 million units of its smartwatch in 2015 alone.

According to Strategy Analysis Apple is expected to garner almost 55 per cent of the global smart watch market share in 2015.

Elmar Mock, Co-Inventor of Swatch has already predicted that the Apple Watch will mean a probable ‘Ice Age’ for Swiss watchmakers.

In an interview to Bloomberg soon after the release of Apple Watch he said, “We’ve seen a lot of arrogance in the Swiss watch industry in the past few years, calling the smartwatch a gadget and not taking it seriously.

“Anything in the price range of 500 francs to 1,000 francs is really in danger. I do expect an Ice Age coming toward us.”

Meanwhile, Apple, even before it launched the Apple Watch, had started removing competing products such as Jawbone UP and Nike+Fuelband from its stores.

Last year it dropped the Fitbit tracker from its stores.

What’s more the Apple Watch can perform most of the functions of a fitness tracker with its accelerometer, a built-in heart rate sensor, GPS and through the Wi-Fi from your iPhone, uses the sensors for different types of motion, providing an overall picture of your all-day activity and workouts.

The only challenge the device has to overcome will be the battery life. Apple Watch can last about 18 hours, while we have smartwatches in the market that can last a week.

Now compare this with traditional Swiss watches that can last almost three to four years before a recharge or service is needed.