Horological Meandering

Don't forget, us watch aficionados are the minority, even among watch buyers. This is the key here: younger people grew up with all kinds of electronics around them, being integral part of their lives. My godchild's for example consider it totally normal to having charge your smartphone daily, at least. They are not in the age (yet) to wear a watch. I am only guessing what they want (if they ever see the 'need' of a watch).

That is where the threat lies - those younger people have different experiences when it comes to wearables.

And then I think the following sentence of yours - which is a central part of your point - is a bit off:

"For myself, it doesn't matter what the battery operated watch can do--it's made in China, by factory workers who are woefully exploited.

What could be more opposite of what we admire, generally. The individual watchmaker. Not the faceless factory drone."

So how do you guess watches below 1000 (CHF, € or US$) are made? I think any romantic soul will be shocked to see the reality, which are assembly lines where workers ('watchmakers') pat together parts (most of them from China, even for watches at higher price brackets), with very little of those handicraft steps that we covet.

There is very little poesy (if at all) associated with those sub-1K watches, and if so, its mostly in the marketing material ;-)

And then, ask yourself: if you are a normal person (see my first paragraph ;-)), and after three years (let's take the expected life span of the Apple watch which is conveniently the recommended service period for a watch) your are asked to fork out roughly the same amount for a service or buy an Apple watch - don't you think many will get tempted?

Mostel, comparing the Apple watch with those watches we discuss here (normally) is a moot point, but at the entry level of the mechanical watch market things are different. And this is the comparison I made - its only silly if one overlooks this caveat.

In this context - I did not compare a picture of cloisonné enamelling to actual cloisonné enamelling - I just wanted to make the point that Apple - more than any wearable maker before - understood what watches are and what attracts people to watches (specifically), and transversed these into the Apple watch, and quite well so.

And the industry players in this price range are nervous to say the least (looking at the numerous interview where they state that everything is fine... ;-)) - the level of execution plus functionality plus incorporation of details at the proposed price - that will indeed be a real challenges for this price range! 

Swatch Group previously said that smart watches / wearables will never thrive. After rumours came closer that Apple would actually be working on such a device their opinion changed suddenly... 

Executives of brands in higher price range see such devices as extension or complement to their offerings.

And here I guess we all agree: For the high end watches it is a nice addition, no threat, just something 'wearable' if you re travelling, exercising etc. For the low-priced mechanical and electronic Swiss watch - a real challenge and a wake-up call (most likely), particularity if the gadget industry gets some of the still existing problems (battery time) solved.

Best,

Magnus

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