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Led by Apple, Smartwatches Contributing to ‘Marked Decline’ in Swiss Watch Industry

Published

10 years ago

June 1, 2016

INSTORE Staff

Smartwatch shipments overtake Swiss shipments.

Seeking Alpha writes that smartwatches contributed to a “marked decline” in the Swiss watch industry in Q4, citing a report saying that smartwatch shipments overtook Swiss watch shipments for the period. The article adds that the Apple Watch led all smartwatches in shipments for the first quarter of this year, also outpacing the iPhone.

Author Mark Hibben writes: “The situation with smartwatches is very analogous to the situation in mobile communications when iPhone was introduced. The vast majority of watches sold in 2015 were electronic, about 1 billion, not the costly mechanical timepieces that the Swiss are noted for. … I consider it inevitable that smartwatches will dominate the electronic watch market. The same technology innovations in processors, displays, batteries and wireless that enabled smartphones also are enablers for the smartwatch.”

Honoring a Legacy: How Smith & Son Jewelers Exceeded Every Goal With Wilkerson

When Andrew Smith decided to close the Springfield, Massachusetts location of Smith & Son Jewelers, the decision came down to family. His father was retiring after 72 years in the business, and Andrew wanted to spend more time with his children and soon-to-arrive grandchildren. For this fourth-generation jeweler whose great-grandfather founded the company in 1918, closing the 107-year-old Springfield location required the right partner. Smith chose Wilkerson, and the experience exceeded expectations from start to finish. "Everything they told me was 100% true," Smith says. "The ease and use of all their tools was wonderful." The consultants' knowledge and expertise proved invaluable. Smith and his father set their own financial goal, but Wilkerson proposed three more ambitious targets. "We thought we would never make it," Smith explains. "We were dead wrong. We hit our first goal, second goal and third goal. It was amazing." Smith's recommendation is emphatic: "I would never be able to do what they did by myself."