Swatch Group Profit -21%

[jdm]

Blame the exchange fraud of 2015, China's duties and of course explosion of the smartwatches

 

http://inchieste.repubblica.it/it/repubblica/rep-it/2016/03/18/news/per_l_orologio_svizzero_e_l_ora_della_crisi-133565113

 

Not in English but  one can have a laugh with Google translation.

[Blacklab]

[wls1971]

Well it could be that they may rethink the situation on parts supply if revenues are going to be on the slide, and it also looks like rival movement producers are stepping up to the mark with Ronda now producing a low cost mechanical movement the Mecano R150 which looks purpose designed to fill the ETA 2824 and 2892 void.

[clockboy]

Interesting but the reasons are not as clear as one would like to think. OK the Swiss made a mistake sowing the seeds to the buying public i.e. doubt re- how much will it cost to service & how etc, but they were also very slow to react regarding the smart watch which is going to be a growing market.

[WileyDave]

Is Swatch too big? Years ago when they started scarfing up all those brands, then trying to limit supply. Mass marketing at it's finest.

[wls1971]

History repeating ? the seventies saw the quartz revolution with 1978 being a turning point with quartz sales out stripping mechanical watches for the first time, ironically the saviour for the Swiss was the mass produced Swatch watch which made cheap colourful quartz watches a must have fashion accessory from 1983 onwards.

[Peixian]

:startle:  

[anilv]

The phone has replaced the watch for many people... with the new smartwatch, which is basically an extension of your smartphone.. this will definitely impact watch sales.

 

Anil