Modern Technology May Have Caused Time To Run Out For Watch Makers

Whether you use it to make calls, keep appointments, store contacts, send text messages, hear music or watch video, it’s become a treasured companion to most people.

But it’s also had an effect on one business that almost no one could have predicted. Some watch makers are complaining that the little all-in-one device is killing their bottom lines.

Fewer and fewer people are buying the wrist-strapped timepieces, turning to their cell phone or PDA’s time display when they want to know if they’re late for that business appointment.

The trend first started showing up in the U.S., where figures show watch sales fell 4.9 percent in 2005 – and have been on the decline since 2001.

People like 37-year-old graphic designer Parker Weintz is a perfect example of what’s happening. He never wears a watch and claims he doesn’t miss it. “The time is right there,” he points out as he pulls a cell phone from his pants pocket. “And it’s all around us in this digital age.”

But watch makers are fighting back by incorporating new technology into their devices and turning them into must have fashion statements.

Diamond encrusted models with built in G.P.S. locators is just one innovation to get the attention of consumers.

And it appears to be working.

Swatch Group, the world’s biggest watchmaker, turned a higher first-half profit in 2006 by selling fewer cheap timepieces and concentrating on more expensive devices.

Chris Kelly admits he only wears his Omega watch for status. It set him back $3,500 – and the 36-year-old is planning on adding another $2,000 luxury timepiece to the $7,000 model he also owns.

But it’s not just the men. Women are also increasingly using watches to show status.

And you can expect the trend to continue as time passes and sales of the cheaper models cool.

“The personal statement a watch makes is just as relevant as ever,” maintains Josh Rubin, editor-in-chief of coolhunting.com, which tracks trends in design and technology.

“Whether it’s a G.P.S.-enabled watch that helps you find your way and tells people you’re techy, or a vintage ’70s LED that says you’re digital old school, a watch can make a specific statement.”

But going without one can, too. Besides his trusty cell phone, Weintz points out another reason he’d rather go around bare-wristed.

“If I see a chick I like on the street, I can ask her the time,” he laughs.