VillageA few years ago, the smart watch industry was caught up in the challenge of digital transformation with the entry of large tech companies into this sector.
Exterior expert Lama Lund said, “The entry of giant technology companies into the watch industry, such as Apple, Samsung and Huawei, has revolutionized the scale at record speed. These companies have begun to allocate huge funds from their own. investment, to develop technology smart watches. “
Lund explained that the smart transformation has turned watches into a revolutionary wearable device that keeps you connected to the digital world, monitors your heart health, tracks your exercises and even how you sleep, and that’s exactly what. it has attracted a large group of users to it.
Smartwatches have managed to prove themselves in three ways, the first being that they have attracted a new category of consumers, who wouldn’t have bought a watch if it wasn’t smart.
The second aspect is that it comes with “revolutionary” specifications at an affordable price, which would not have happened if traditional watch makers had remained in control of the market.
As for the third aspect, it is confirmed that these watches have eliminated the class created by precious watches.We see that smartwatches have spread among different social classes, as they knew how to arouse the admiration of heads of state and businessmen. and at the same time the poor have managed to secure their price, which has not happened in the world of luxury mechanical watches costing thousands of dollars.
For his part, the watch industry specialist Bert Daccache said: “Smartwatches have aroused concern and fear among watch market observers, due to the repetition of the crisis scenario of the seventies, when Japanese quartz watches have “progressively” eliminated the Swiss mechanical watch industry, which has come back to life thanks to the Swatch watch. “
Daccache pointed out that there are big complaints about the mechanical watch industry for not keeping up with the smart transformation and for not trying to attract a segment of young people looking for a watch that “fits their lifestyle” to a acceptable price, especially since smart watches have acquired the share of relatively cheap and inexpensive mechanical watches.
Daccache explained that smartwatches that have spread widely will not kill mechanical watches, as the consumer buying a smartwatch doesn’t mean they don’t buy another traditional watch, and pointed out that in terms of number, Apple and through its smartwatches dominate the market with huge sales, while in terms of “money” and profitability, the mechanical watchmaking industry made with precious metals is still the most profitable, despite the decline in sales.
According to Daccache, this is due to the fact that the mechanical watch industry has an audience that likes to buy “expensive” watches such as Rolex watches, of which more than a million watches were produced in 2021.
Source: skynewsarabia
–
