Shares of Swiss watch maker Swatch fell as much as 2.6% in Zurich trading, closing 1.75% lower. This after Apple introduced its long-awaited iWatch. While the mulit-functional Apple timepiece might eventually impact the whole USD 60bn Swiss watch industry, the lower-end of the market will probably feel the pressure first. The threat is biggest for small, independent watch makers, but also Swatch, which gets about a fifth of all sales from namesake plastic watches and the Tissot brand. The Apple Watch will have a starting price of USD 349 while other models, including one sporting a gold band may cost more. Swatch’s Tissot T-Touch Expert Solar has a compass, tells the altitude and runs on solar power, but costs about USD 1,250.
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