Apple Watch sales remain steady as Swatch plunges

Apple Watch sales are remaining strong:

Swiss bank UBS has issued a research note that projects Apple Watch sales totaled 1.7 million units in the June quarter, a somewhat surprising increase of 100,000 units compared to its estimate of 1.6 million sales in the March quarter.

Apple Watch sales have remained steady throughout the first half of 2016, despite the formation of an elongated refresh cycle. Joe Rossignol | MacRumors

Meanwhile sales and profits at Swatch Group AG are dropping:

Swatch Group AG shares plunged as the watchmaker warned of a collapse in first-half profit and cut sales guidance for the year. Corinne Gretler | Bloomberg

Looking back to September 2014 (days after Apple Watch was announced, but months before it launched):

Nick Hayek, chief executive of Biel-based Swatch Group AG, the world's biggest watchmaker by revenue, said smartwatches like Apple's are an opportunity. "Everything that makes millions of people more open to putting something on their wrist will boost the opportunities to sell more watches," said Mr. Hayek. John Revill | The Wall Street Journal (behind paywall)

Mr. Hayek was correct. Unfortunately that opportunity has gone to Apple at Swatch's expense.