Breaking views

Swiss watch industry recorded the worst result since 1984

Switzerland exported the fewest quartz watches in 33 years as competition from fitness bands and smartwatches pummeled the low end of the market and forced the industry to refocus on more expensive mechanical timepieces.

Swiss watchmakers shipped 17 million quartz and electronic timepieces in 2017, the lowest number since 1984, according to statistics published Tuesday by the Federation of the Swiss Watch Industry. By value, that was worth 3.5 billion francs ($3.7 billion), down 3.8 percent from 2016.

Continue reading