Recently I have been thinking a lot about the watch industry again. Do I want to get back in? If so, in what sort of position? Part of this exercise has been to analyze the industry in its parts and as a whole. I'll write further about my thoughts and I have touched on them in the past, but perhaps the biggest threat was not even on the horizon when last I was authoring this blog. It seems clear that wearable tech is going to be the next evolution of technology, and likely that it will be widely adopted.
“I see [wearables] as a very key branch of the tree.”
"I think the wrist is interesting. The wrist is natural.”
If a company like Apple were to make a must-have tech product that occupies wrist space, it could mean a truly abrupt end to the wrist-watch.
It may be hard to imagine right now, but think about how necessary it is in 2013 to have a smart phone. What if there were an iWatch that was just as necessary? An everyone-has-one type of device like the iPhone. Within a year or two, the watch industry would be decimated. The wrist watch would lose its real estate, just like the pocket watch lost its waistcoat.
I wouldn't have seen this as a very real threat even a year ago. But when Tim Cook is making statements like that, you have to take notice. This could make the advent of the quartz watch look like a blip in the road. It would be a true extinction level event and it is right on the doorstep.