The saying that goes as “nothing lasts forever” seems to hold true for almost everything. Well, that is exactly what is happening to Swiss watch makers - the most prominent and powerful watch makers in the world. Their exports have fallen for the first time since 2009 and that too is because of the Apple Watch!
Swiss watch exports have fallen by 8.9 percent to $1.9 billion, the first time it as ever decreased. There are many factors on why it could have decreased but the major that are to be blamed are: appreciation in swiss francs and the release of the Apple Watch.
The thing that will interest you the most is related to the Apple Watch. The Apple Watch which Apple has distinguished as a luxury watch, especially the Edition model is a direct competitor to the brands of Swiss watch makers.
It is interesting to see how a single product from a tech company could have such a major impact on a country’s imports.
Well, let’s see how this trend goes on, whether the imports will fall or rise, based on the Apple Watch.
(Via Bloomberg)
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