Swatch Group AG shares fell as much as 3.2 percent on concern Switzerland’s largest watchmaker will face more competition from the latest version of the Apple Watch, which can make calls and send messages without requiring a mobile phone.
Whether users are out for a run, at the pool or just trying to be more active throughout their day, Apple Watch Series 3 with cellular allows them to stay connected, make calls, receive texts and more, even without iPhone nearby. The third-generation Apple Watch is a full-featured health and fitness companion with intelligent coaching features, water resistance 50 meters and a new barometric altimeter that measures relative elevation. Apple Watch Series 3 comes in two models, one with GPS and cellular, and one with GPS, both featuring a 70 percent faster dual-core processor and new wireless chip.
Bloomberg’s Emma Chandra has more on “Bloomberg Markets.”
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Direct link to video here.
MacDailyNews Take: Auf Wiedersehen, Swatch.
Apple Watch, the world’s best-selling watch, can now work without an iPhone – September 12, 2017
New Apple Watch Series 3 delivers built-in cellular with powerful new health and fitness enhancements – September 12, 2017
Apple sues Swatch over its ‘Tick Different’ marketing campaign – April 12, 2017
Swatch looks to take on Apple with homegrown watch operating system – March 16, 2017
Apple Watch has blood on its hands: Pebble is dead – December 7, 2016
Swatch issues dire profit warning, stock plummets to lowest point in over 6 years – July 15, 2016
Thanks to Apple Watch, smartwatches are now more popular than Swiss watches – February 19, 2016
As Apple Watch sales ramp, Swiss watch makers suffer biggest slump in six years – November 19, 2015
Swiss watch makers in deep shit, as Apple Watch designer Jony Ive predicted – October 23, 2015
Swiss watch exports post biggest quarterly export drop since 2009 – October 20, 2015
Apple Watch: Swatch CEO whistles past the graveyard – March 18, 2015
Swatch co-inventor: Apple Watch will succeed and an ice age is coming for Swiss watch industry – March 10, 2015
Old school watch makers don’t get Apple Watch – September 12, 2014
Apple makes roadkill of deer-in-the-headlights CEOs – April 1, 2011
You almost feel sorry for Swatch. Almost. Rolex stands a better chance since at least they have the high/ultra end of market. But they will take a hit too as younger generation prefers technology vs art on their wrist.
And Apple shares are up…
Oh wait never mind
Apple shares also dropped.
Screw Swatch, who cares? That’s just bookie score keeping. What’s ironic about the headline is that Apple shares fell too!
Hey Stevie what’s the score?
You HAVE to have a iPhone to use the new Apple watch. If you do not have a iPhone there is no point in getting it. Everyone make you think you can use the new Apple watch on its own which you can not. So said Apple!!!
This will be better that a medic alert bracelet – you can call emergency and they can find you via GPS and get your heart rate info all from the one device. Awesome.
Awesome only if you have a iPhone…would like it to work without being tethered to the iPhone …stands alone Apple watch!!!
It’s not “Swatch” the watch company as you think of them. Rather, it’s the Swatch Group, which includes many high end luxury brands and mid-tier brands such as Omega, Breguet, Blancpain, Tissot, Longeines, Certina, Hamilton and others. These are all well respected watch brands owned by the Swatch group. So it’s not the plastic Swatches you are thinking of, but yes, they own those too.
Yes, market share will fall. No doubt. Omega and others will be fine, but their entry level and mid-tier brands will be threatened, to a degree, by the Apple Watch.
“Watch people”, may own an Apple Watch, but it’s not a “Watch” to watch enthusiasts, generally. No doubt, the v3 will take more customers away who may have spent money on something else and for that, yes, the shares should drop.
Rolex isn’t really an ultra high end watch either, they are like Omega, luxury but not a the high end of the prices at all…not even close.
This was the most exciting product at the event and some folks don’t even get it. This device is going to blow up and really kick start the smart watch revolution like a with a stick of dynamite.