Do Swiss watchmakers need to fear the advent of the smartwatch? It doesn't appear so.
Mechanical watches made up a third of revenue in the $58-billion watch market last year, and the segment will expand 33 per cent by 2016, researcher Euromonitor International forecasts -- even though high-end Swiss watches sell for stratospheric prices: Patek Philippe's Sky Moon Tourbillon runs $1.3 million and Franck Muller's Aeternitas Mega 4 (at right) is $2.9 million.
"You can tell a story with a beautiful watch," says Gabriel Vachette, 30, who runs a website about watches and owns roughly 20. "People who buy a Galaxy Gear will get rid of it in a year or two."
-- Washington Post-Bloomberg