More replacements
Still, analysts said that this doesn't spell the end of the Swiss watch as a luxury status symbol, even if it is falling behind in the smartwatch competition. "I would argue it is not really comparing Apples to apples," said Vincent Thielke, a research analyst at market research firm Canalys. "Unit shipments do not paint the entire picture." Thielke pointed out that Swiss watches are about twice as expensive as Apple watches on average ($1,000 versus $500), and in terms of absolute US dollars generated, the Swiss watch industry outperformed Apple Watch last year. Looking at unit sales alone doesn't tell the full picture. Apple Watches might need to be replaced more frequently than Swiss watches to upgrade their technology and boost battery life, all of which could bump up Apple's unit sales number, said Thielke. He added that the Apple Watch could also be attracting newer audiences who might never have purchased a Swiss watch. "Apple Watches cater to a much broader consumer base, including young customers and gadget lovers," said Thielke. "For these groups, it may be more important to adopt a smartwatch for technological or health reasons rather than because of an appreciation for 'timeless timepieces.'"Still timeless?
The Swiss watch's position as a status symbol is safe, given its luxury pricing and different watch faces and designs to choose from, said Kaul, the Omdia analyst. "The only way to increase the uniqueness or status of the Apple Watch is to invest in a designer band."DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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