Apple Watch Outperforms Swiss Watch Industry... 30.7 Million Units Sold Last Year

[Asia Economy Reporter Seulgina Jo] Apple Watch, leading the smartwatch market, has even surpassed Switzerland, a traditional watch powerhouse. Last year, it sold 10 million more units than the combined sales volume of Swiss watch companies such as Swatch and Tissot.

According to market research firm Strategy Analytics (SA), Apple Watch shipments last year totaled 30.7 million units, a 36% increase compared to the previous year. During the same period, the total sales volume of Swiss watch companies was 21.1 million units, a 13% decrease from the year before.

This is the first time since its launch in 2014 that Apple Watch has surpassed the Swiss watch industry in annual shipments. In 2018, Apple Watch shipments were 22.5 million units, slightly less than the total Swiss watch shipments of 24.2 million units.

SA analyzed, "Apple is appealing to young consumers who want digital watches by offering products that attract them, causing Swiss watch brands such as Swatch and Tissot to lose their footing in the smartwatch market."

The smartwatch market is estimated to be worth around 20 trillion KRW. As of the third quarter of last year, Apple held the top position in the global smartwatch market with a market share of 47.9%. Wearable devices, led by smartwatches and AirPods, are considered a new growth sector driving Apple's recent sales. Samsung Electronics, which sells the 'Galaxy Watch,' holds the second-largest market share.

This content was produced with the assistance of AI translation services.