Swiss watch exports had their biggest decline in six years in
October, led by a 39 percent slump in shipments to Hong Kong, the
industry’s largest market.
Shipments declined 12 percent to 2 billion Swiss francs ($2
billion), the Swiss customs office said in a statement Thursday.
Adjusted for fewer working days, the drop was 7.6 percent. Exports
to the U.S. dropped 12 percent.
Could be coincidence, of course. Maybe Apple Watch debuted in a year in which Swiss watch sales would have fallen even Apple Watch didn’t exist.