The Apple Watch has been a market leader in the smartwatch industry for several years but has only surpassed the Swiss watch industry once before in quarterly sales.
Apple Watch has in a first overtaken the much-celebrated Swiss watch industry in terms of annual units sold. The company sold over 30 million units in 2019 alone, making it the most successful smartwatch of the year.
The Cupertino-based tech giant sold 30.7 million smartwatches in 2019, as compared to 21.1 million watches shipped by the Swiss watch industry, new estimates by consulting firm Strategy Analytics showed.
Steven Waltzer, Senior Analyst at Strategy Analytics noted that traditional Swiss watchmakers such as Swatch and Tissot were losing the smartwatch wars.
"Apple Watch is delivering a better product through deeper retail channels and appealing to younger consumers who increasingly want digital wristwear," he said.
"The window for Swiss watch brands to make an impact in smartwatches is closing. Time may be running out for Swatch, Tissot, TAG Heuer and others," he added.
The Swiss watch industry saw a 13 percent decline in sales from 24.2 million units shipped in 2018. Apple, on the other hand, saw year-on-year (YoY) growth of 36 percent from the 22.5 million units sold in 2018.
Neil Mawston, Executive Director at Strategy Analytics, said, "Analog wristwatches remain popular among older consumers, but younger buyers are tipping toward smartwatches and computerised wristwear."
The Apple Watch has been a market leader in the smartwatch industry for several years but has only surpassed the Swiss watch industry once before in quarterly sales in 2017.
MacRumors notes that this is the first time Apple Watch's annual sales surpassed its analogue rival.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.
