As the Swiss watchmakers witness a turnaround in the growth to green more leaders from the watch industry have been resonating what Swatch’s CEO Nick Hayek believed – that the smartwatch industry is not a threat, but an opportunity for the whole watchmaking industry. More traditional Swiss watchmakers have been collaborating with tech and fashion brands to launch their own hybrid smartwatches.
In the Q1 of 2018, the Swiss watch industry exports rose by 10.1% which the highest quarterly growth in six years. One of the reasons is the weakening Swiss franc against Euro which fell around 2%. This brought down the production costs. With Google expected to renew its push behind wearables with their rebranding of Android Wear to Wear OS; the purpose for which is to make Wear OS devices work with all phones and not just Android. Swiss watch industry can be expected to spice up the market with their innovative smartwatches.