Apple Watch Is Changing the Watch Industry

While the debate on whether the Apple Watch is a success or a flop continues, we are at least arriving to one conclusion: The Apple Watch is changing the watch industry.

According to Bloomberg Business Swiss watch exports are currently facing their biggest decline in the past six years.

It seems that Jony Ive’s 2014 prediction that the Apple Watch would disrupt the flow (and profits) of the Swiss watch industry is becoming true. The Apple Watch was released in late April and according to the chart below, Swiss watchmaker profits have fallen in every month since.

Although Apple still hasn’t released any sales figures for the wearable, Tim Cook has mentioned that the device sells more units with each successive quarter.

As for the smartwatch industry, the Apple Watch seems to be helping elevate sales. Only low-end luxury brands have suffered since Apple Watch hit the market. Although Apple Watch still doesn’t dominate the wearable market and stands second to Fitbit, Apple is planning the release of its second-generation model and still has much room to grow.

A device likely to be called Apple Watch 2, early indications point to the new wearable featuring a built-in video camera to enable users to initiate and receive Facetime calls from their wrists as well as improved battery life. As is usual with Apple, the form of the device itself may not change much but there will be a more diverse lineup of models and styles offered. The overall thickness of the device is expected to lessen as well.

Apple Watch in its 3 core variations.

Apple Watch in its 3 core variations.

It also seems that the Apple Watch will become an essential tool, for Apple is in the process of developing an iOS app designed to help troubleshoot issues with iPhones and iPads. More information on this app has not yet been disclosed.

One certainty is that the popularity of the Apple Watch is expected to boost up with the coming holiday season. Already pegged as the hottest holiday gift, plus the fact that major retail stores are ready to sell it by Christmas, the Apple Watch’s sales are set to soar.

The most exciting opportunities present themselves when you think of your future Apple Watch as a new remote to control (facilitate) your life. Imagine being able to turn off your lights, lock your doors and even ping your misplaced phone through the screen on your wrist as you race to make it to that outing.

For the entrepreneur, the question that comes with such a great resource for innovation like the Apple Watch is: Who will come up with the great idea for my industry first?

Recent trends in watch sales point that the Apple Watch will inevitably become an essential business tool to have, even if your business is retail (as we’ve written about before). Consult today with third party app developers to see what customized solution could be crafted for your enterprise on this wearable platform.

At Lolay, we’re not just talking about the Apple Watch, we’re building useful applications and challenging ourselves to come up with unique solutions to our client’s problems using wearables. So when our clients ask us to make them an Apple Watch app for their business, we’re ready. Are you? Contact us online today or subscribe to our email for nothing but fun and helpful updates on our work!