Apple and Swiss watches count on Chinese wealth to keep ticking

on June 10 2015 | in Daily Headlines Trending | by | with No Comments

Chinese consumers have been a strong driving force for the development of Apple and the Swiss watch industry. Twenty-percent of Apple’s revenues came from the greater China market and 20% of global Swiss watch exports went into China and Hong Kong last year, reports Tencent’s tech news web portal.

According to a research report from RBC Capital Markets, nearly 60% of wealthy Chinese intend to buy a watch that costs more than US$800 over the next year. The classic mechanical watch priced between US$1,600-$4,000 remains the most popular model. The brands most commonly bought by Chinese buyers are Omega, Rolex, Longines, Cartier and Tissot.

The survey did not include Apple Watch as it had just been released. The majority of participants, however, expressed their intention to buy a smartwatch. Nearly 80% of Chinese luxury watch buyers want a smartwatch and 14% already had.

According to a Hurun report, Apple is the most desirable brand for wealthy Chinese both male and female.

Read more at Want China Times.

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