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Swiss immigration vote ticks off watchmakers

Switzerland's recent vote to curtail immigration from the European Union could seriously impact the Alpine country's booming watch trade, industry insiders warned this week. Nearly half of all employees in the sector are foreign nationals who either reside in Switzerland or commute across its borders to work, according to the Swiss Watch Industry Federation.

Smartwatches? Not at this time, say wary Swiss

By Silke Koltrowitz BASEL, Switzerland (Reuters) - With their hundreds of years of watchmaking experience, Swiss watchmakers can afford to take a long view of technological fads and fashions. So-called smartwatches, packing computing power into a wrist-sized gadget, aren't in their plans for now. Technology groups from Samsung Electronics Co Ltd to Sony Corp are counting on wearable electronic devices able to hook up to the Internet, melding fashion and technology in what could be the next mass consumer trend.

Smartwatches? Not at this time, say wary Swiss

By Silke Koltrowitz BASEL, Switzerland (Reuters) - With their hundreds of years of watchmaking experience, Swiss watchmakers can afford to take a long view of technological fads and fashions. So-called smartwatches, packing computing power into a wrist-sized gadget, aren't in their plans for now. Technology groups from Samsung Electronics Co Ltd to Sony Corp are counting on wearable electronic devices able to hook up to the Internet, melding fashion and technology in what could be the next mass consumer trend.

Swiss watch exports to China recover in December

By Silke Koltrowitz ZURICH (Reuters) - Swiss watch exports to China rose in December, data showed on Thursday, adding to signs a difficult spell for luxury goods makers in an important market may be coming to an end after Swatch Group's <UHR.VX> upbeat statements on Wednesday. Swiss watchmakers sold fewer watches in China last year after a government crackdown on gift-giving to officials hit demand for expensive timepieces.

Swatch reports good times

The world's biggest watch group Swatch on Wednesday posted a 2013 net profit rise of more than 20 percent, beating market expectations and hailing a promising start to the new year. Times look good for the company despite changes in the climate for luxury watch sales in the important Chinese market, it said. The Swiss watchmaker posted a net profit of 1.9 billion Swiss francs ($2.1 billion, 1.5 billion euros) last year, it said in a statement.

Swatch sees sales rise in 2013 but misses targets

The world's biggest watch group Swatch saw its share price soar Friday after posting an 8.3-percent increase in sales in 2013, even though it undershot targets due to unfavourable exchange rates. The Swiss watchmaker said in a statement before its full results that its sales soared to 8.8 billion Swiss francs ($9.7 billion, 7.1 billion euros) last year, up from 8.1 billion a year earlier. Swatch, most known for its brightly coloured plastic-cased watches, thereby fell short of the 9.0 billion francs it said a year ago it aimed to generate.

Swatch sees sales rise in 2013 but misses targets

The world's biggest watch group Swatch posted an 8.3-percent increase in sales in 2013 on Friday, but said it undershot targets because of unfavourable exchange rates. The Swiss watchmaker said in a statement before its full results that its sales soared to 8.8 billion Swiss francs ($9.7 billion, 7.1 billion euros) last year, up from 8.1 billion a year earlier. Swatch, most known for its brightly coloured plastic-cased watches, thereby fell short of the 9.0 billion francs it had aimed to generate.

Swatch fire seen affecting other watchmakers

By Alice Baghdjian ZURICH (Reuters) - A fire that destroyed a workshop at a Swatch Group <UHR.VX> factory will affect other watchmakers it supplies more than the Swiss firm itself, as a break in production is likely to cut the availability of parts to an industry already facing bottlenecks. Sunday's fire at a part of the plant that treats metals to protect them from rust could stop production of some components for several weeks, Swatch's chief executive said on Monday.

Swatch fire strikes at "heart" of watch mechanism production

ZURICH (Reuters) - A fire has destroyed one workshop and damaged another at Swatch Group's <UHR.VX> watch mechanism subsidiary, the Swiss firm that has a near monopoly on the supply of mechanisms to other watchmakers said. Swatch Chief Executive Nick Hayek told Swiss radio on Sunday that the blaze had struck at the "heart of production" at ETA Manufacture Horlogere and the impact on output would be examined more closely on Monday. "Everything is devastated," Hayek said.

Swatch fire strikes at "heart" of watch mechanism production

ZURICH (Reuters) - A fire has destroyed one workshop and damaged another at Swatch Group's <UHR.VX> watch mechanism subsidiary, the Swiss firm that has a near monopoly on the supply of mechanisms to other watchmakers said. Swatch Chief Executive Nick Hayek told Swiss radio on Sunday that the blaze had struck at the "heart of production" at ETA Manufacture Horlogere and the impact on output would be examined more closely on Monday. "Everything is devastated," Hayek said.
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