Smartwatches now more popular than Swiss watches, thanks to Apple - CNET

The venerable Swiss wristwatch industry may have a smartwatch problem.

Global shipments of smartwatches outpaced those of Swiss watches in the fourth quarter of 2015, according to figures released Thursday by market researcher Strategy Analytics. This marks the first time the wearable tech devices have overtaken their luxurious counterparts. Much of the credit goes to Apple, which the research firm says has dominated smartwatch sales since its release last April.

While the popularity of smartwatches has grown dramatically, consumer interest in Swiss watches has waned. That's largely due to reluctance on the part of the Swiss firms to embrace emerging wearable tech, which in addition to telling time lets wearers place calls, tackle email, and check their stocks and blood pressure.

Swiss watch shipments declined 5 percent in the fourth quarter compared with the same period in 2014, while smartwatch shipments rose 316 percent over the same time.

"The Swiss watch industry has been very slow to react to the development of smartwatches," Neil Mawston, executive director at Strategy Analytics, said in a statement. "The Swiss watch industry has been sticking its head in the sand and hoping smartwatches will go away."