Switzerland exported the fewest quartz watches in 33 years as competition from fitness bands and smartwatches attacked the lower end of the market, forcing the industry to refocus on more expensive mechanical timepieces.
Swiss watchmakers exported 17 million quartz and electronic timepieces in 2017, the lowest number since 1984.
However, the industry grew overall for the first time in three years as demand for luxury watches began to recover. Total exports rose 2.7 percent to 19.9 billion francs, as the bulk of the value Swiss watchmakers produce comes from mechanical timepieces.