Swiss Watch Sales Slump

Bloomberg: Swiss Watch Quarterly Exports Decline the Most Since 2009

Waning demand in Hong Kong and China has spread to other Asian markets such as Singapore, South Korea and Taiwan, weighing down an industry that accounts for a 10th of Switzerland’s exports. The nation’s watch executives are the most pessimistic in four years as an increasing minority sees a threat from smartwatches, a Deloitte LLP report showed last month.