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Strategy Analytics says Swiss brands accounted for just 1% of global smartwatch shipments in Q4.
Global smartwatch shipments overtook Swiss watch shipments for the first time in the fourth quarter of 2015.
This is according to Strategy Analytics, which last week revealed that smartwatch shipments grew to 8.1 million units in the three months to 31 December, up from 1.9 million a year earlier. By comparison, Swiss watch shipments came in at 7.9 million, down from 8.3 million in Q4 2014.
"Smartwatches are growing rapidly in North America, Western Europe and Asia," said Cliff Raskind, director of Strategy Analytics, in a research note on Thursday. "Apple Watch captured an impressive 63% share of the global smartwatch market in Q4 2015, followed by Samsung with 16%. Apple and Samsung together account for a commanding eight in 10 of all smartwatches shipped worldwide."
The Swiss watch industry has been slow to react to the rise of the smartwatch.
According to Strategy Analytics, Tag Heuer, which began selling its ‘Connected’ smartwatch in November, accounted for just 1% of global smartwatch shipments in the fourth quarter.
"They are a long way behind Apple, Samsung and other leaders in the high-growth smartwatch category," said Strategy Analytics executive director Neil Mawston.
"The Swiss watch industry has been sticking its head in the sand and hoping smartwatches will go away."
