Pursuits
Swiss Watchmakers Turn Pessimistic as Smartwatch Risk Looms
- Watchmaker executives most negative since 2012 in study
- Strong franc highlighted as biggest risk by Deloitte report
An Alpina smartwatch, with diamonds and a steel bracelet.
Source: MMT via BloombergThis article is for subscribers only.
Swiss watchmaker executives are the most pessimistic in four years as an increasing minority see a threat from smartwatches and the strong franc buffets the industry, a Deloitte LLP report showed.
Deloitte found 41 percent of executives were negative about 12-month prospects while 14 percent were positive, according to the study, released Tuesday. That’s the first time gloominess beat optimism since the market researcher began the annual study in 2012.