The fourth quarter of 2015 saw smartwatches out-ship Swiss watches for the first time.
This is according to the latest research from Strategy Analytics, which shows global smartwatch shipments reached 8.1 million units in the fourth quarter compared to 7.9 million Swiss watch shipments.
Strategy Analytics director Cliff Raskind says the over eight million global smartwatches shipped in Q4 is a healthy 316% increase compared to the 1.9 million shipped in the fourth quarter of 2014.
"Smartwatches are growing rapidly in North America, Western Europe and Asia. Apple Watch captured an impressive 63% share of the global smartwatch market in Q4 2015, followed by Samsung with 16%. Apple and Samsung together account for a commanding eight in 10 of all smartwatches shipped worldwide," he adds.
In contrast, global Swiss watch shipments fell 5% in Q4 2015 to 7.9 million, from 8.3 million in Q4 2014.
"Global demand for Swiss watches is slowing down, and major players like Swatch are struggling to find growth," according to Strategy Analytics analyst Steven Waltzer.
Neil Mawston, executive director at Strategy Analytics, says the Swiss watch industry has been very slow to react to the development of smartwatches.
"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 1% of all smartwatches shipped globally during Q4 2015, and they are a long way behind Apple, Samsung and other leaders in the high-growth smartwatch category," Mawston concludes.
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