The above quote comes from this article and I must say that most of the sites reporting this are completely missing the point. It is indeed good for the smart industry that sales are picking up, but this does not mean that purchasers are not buying a Rolex or an Omega because they instead choose a Moto 360 or an Apple Watch Sport. That’s like saying that sales of Aston Martins have declined because the Vauxhall Astra is selling well.
These are completely different products and of more concern should be the general decline of the luxury watch industry. The fact that smart watches are selling in bigger numbers is likely not related in any way.