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This article was published 25/10/2013 (941 days ago), so information in it may no longer be current.
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