It may be time to stop doubting smartwatches.
For the first time ever, global smartwatch sales have surpassed sales of traditional Swiss watches. Worldwide, smartwatch shipments reached 8.1 million units in Q4 of 2015 while Swiss watch shipments clocked in at 7.9 million, according to data from a Strategy Analytics report. In a press release, Cliff Raskind, director at Strategy Analytics, said this marks a 316 percent increase in smartwatch sales from Q4 of 2014.
“Smartwatches are growing rapidly in North America, Western Europe and Asia,” he added. “Apple Watch captured an impressive 63 percent share of the global smartwatch market in Q4 2015, followed by Samsung with 16 percent. Apple and Samsung together account for a commanding eight in 10 of all smartwatches shipped worldwide.”
Also in the press release, Neil Mawston, executive director at Strategy Analytics, noted that Swiss brands have attempted to tap into the growing smartwatch space, but only halfheartedly.
“The Swiss watch industry has been very slow to react to the development of smartwatches,” he said. “The Swiss watch industry has been sticking its head in the sand and hoping smartwatches will go away. Swiss brands, like Tag Heuer, accounted for a tiny one percent of all smartwatches shipped globally during Q4 2015, and they are long way behind Apple, Samsung and other leaders in the high-growth smartwatch category.”