Smart watch exports exceed Swiss watch shipments for the first time

Global exports of smart watches in the last quarter of 2015 surpassed those of Swiss watches, a recent study from market research firm Strategy Analytics revealed.

During the period, smart watch shipments reached 8.1 million units, exceeding the 7.9 million units registered by Swiss watches. This marks the first time ever that smart watches outshipped Swiss watches on a global scale.

Based on the group's data, swart watches posted a 316 percent YoY increase in exports, with the market growing rapidly in North America, Western Europe and Asia. The Apple Watch accounted for 63 percent of the global market share, followed by Samsung at 16 percent.

In contrast, the figures for Swiss watches represented a 5 percent year-on-year decrease as overseas demand slows down and major players continue to struggle to find growth.

According to Neil Mawston, Strategy Analytics executive director, "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 smart watches will go away."

He also added that Swiss brands such as Tag Heuer accounted for a miniscule 1 percent of the overall smart watch shipments in 4Q15, significantly lagging behind industry giants Apple and Samsung.

View a comparison table of smart watch suppliers on GlobalSources.com