Swatch's Smartwatch To Face Off Apple Watch
Smartwatches are commonly sold for between $150 and $300, almost as same as the Swatch’s expensive plastic watches and least pricey quartz timepieces. The clash will heat up later this year when Apples will introduce their Smartwatch with $349 price tag.
According to Luca Solca, an analyst at Exane BNP Paribas estimated that Smartwatches could engulf as much as 10 of sales by Swatch’s entry-level plastic brand and 5 percent of its midrange brands like Tissot and Mido.
Omega, Tissot and Longines, which are owned by Swatch have been unconcerned about Internet-enabled watches. Samsung Electronics Co.’s Galaxy Gear and Pebble Technology’s Steel who came up with their innovations and disturbed the business with old watchmakers.
According to Jon Cox, an analyst at Kepler Cheuvreaux in Zurich,“The launch of Apple watch would contribute to a ‘tricky’ year for Swatch” reports wsj.com. Mr. Hayek quoted, “Swatch been contributing components to many of the big players in the Smartwatch industry for some time.”
“So you can imagine that our brands and consumers will benefit from this know-how in 2015.”Added Hayek.
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