This Swiss CEO Is Sounding the Alarm on Apple

“Peter Stas, co-founder and CEO of Frederique Constant, sounded the alarm about what he sees as the increasing threat of the Apple Watch to the Swiss watch industry. Writing on his personal blog on the Frederique Constant website, Stas cited a study by the Washington, DC-based Juniper Research Group, estimating that sales of hybrid connected watches (i.e. with analog dials) will soar to 80 million units in 2022 from 14 million last year. Then he wrote this: “I feel that the Swiss watch industry still doesn’t understand how much the Apple watch and other smartwatches have eaten into the figures for quartz watch movements … The Apple Watch is now in its third generation and who knows what they will bring with the fourth generation. If they start to adapt the case and have something other than just a black screen, then the Swiss watch industry could be heading for trouble. I still say quite frankly that many of my colleagues in the industry don’t know what is happening.”

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