Economy, Sci & Tech

Smartwatch Sales Take Off

Smartwatch Sales Take OffSmartwatch Sales Take Off

According to a new research project by an American tech analytics firm, global smartwatch shipments reached 8.1 million units in Q4 2015, compared with 7.9 million Swiss watch shipments.

It is the first time ever that smartwatches have outshipped Swiss watches on a global basis. Cliff Raskind, director at Strategy Analytics, said global smartwatch shipments reached 8.1 million units in Q4 2015, rising a healthy 316% from 1.9 million in Q4 2014.

"Smartwatches are growing rapidly in North America, Western Europe and Asia. Apple Watch captured an impressive 63% share of the global smartwatch market in Q4 2015, followed by Samsung with 16%. Apple and Samsung together account for a commanding 8 in 10 of all smartwatches shipped worldwide,” he said.

Steven Waltzer, analyst at Strategy Analytics, added, “We estimate global Swiss watch shipments reached 7.9 million units in Q4 2015, falling 5% from 8.3 million in Q4 2014.  Global demand for Swiss watches is slowing down and major players like Swatch are struggling to find growth.”

Neil Mawston, executive director at Strategy Analytics, noted that the Swiss watch industry has been very slow to react to the development of smartwatches.

"The Swiss watch industry has been sticking its head in the sand and hoping smartwatches will go away. Swiss brands, like Tag Heuer, accounted for a tiny 1% of all smartwatches shipped globally during Q4 2015, and they are long way behind Apple, Samsung and other leaders in the high-growth smartwatch category,” he said.