The four-century old Swiss watch industry is now running behind smartwatches in terms of shipments now that Apple Inc. is in the game, according to market researcher Strategy Analytics. But measured by value, the newfangled gadgets have further to go before they can dethrone the Swiss industry, which is convening at the Baselworld watch fair to unveil its latest creations. The smartwatch market was worth $2 billion in the fourth quarter at wholesale prices, about a third the size of the $5.7 billion Swiss-made sector.
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