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  • Analysts Predict News of an Apple Watch Could Be Beneficial for Swiss Watchmakers Too

    In many cases, Swiss watchmakers have been passive or even resistant in response to smartwatches in the past. With the introduction of the Apple Watch, the companies have shifted and are now said to be working on smartwatches of their own with the potential of even seeing a boost to sales of traditional luxury models.

    Large players in the industry such as Richemont, Guess, LVMH (Louis Vuitton Moet Hennessy) and Swatch are all rumored to be working on smartwatches according to the folks over at Reuters. The companies are hoping that they will be able to counteract or perhaps even capitalize on the buzz that is surrounding the upcoming Apple Watch.

    Unsurprisingly, efforts of Swiss watchmakers were in the news before but seem to be gaining more attention now that the Apple Watch even has passed and everyone is looking to see what the competition is drumming up. A prime example of this is that Swatch’s smartwatch efforts will support wireless payments, much like the Apple Watch. Some of the key differences between the two is that Swatch’s offering will have a longer-lasting battery and support both iPhones and Android devices.

    Back in January, Richemont’s Montblanc subsidiary ended up launchin the TmeWalker Urban Speed, which for those of you who don’t know is actualy a mechanical watch boosted by an interchangeable, Bluetooth-enabled strap. Guess on the other hand is apparently launching the Guess Connect line later this year which will have the option to pair with iPhones or Android devices, support voice commands and work with existing mobile apps as well.

    One of the more surprising things to hear is that CCS Insight analyst, Ben Wood, recently told Reuters that news of the Apple Watch could actually be beneficial for Swiss watchmakers since it may spark a new interest in watches among people who were otherwise used to telling time from their phones. Berenberg Bank analysts also claimed that the smartwatch market has limits since the smartwatch is likely to be upgraded frequently, therefore losing its value quickly when compared to conventional watches. Rolex’s flagship mechanical watch, the Submariner, has actually increased in value – something that goes to show the value that conventional watches can hold and obtain.

    We’ll have to ultimately see what affect the Apple Watch has on the watch industry but one thing is for sure, it’s already causing a large impact.

    Source: Reuters
    This article was originally published in forum thread: Analysts Predict News of an Apple Watch Could Be Beneficial for Swiss Watchmakers Too started by Akshay Masand View original post
    Comments 1 Comment
    1. Jahooba's Avatar
      Jahooba -
      I wouldn't mind a simple watch that tells time and vibrates with caller ID when i get a call. It doesn't even need a touch screen, just make the watch entirely programmable in the companion app. There's got to be a better way - $350+tax is ridiculous.

      Also in the last paragraph you mean 'effect'