New York (CNN Business) The Apple Watch outsold the entire Swiss watch industry in 2019.

The Apple Watch sold 31 million units worldwide, while all Swiss watch brands combined sold 21 million units, according to research from consulting firm Strategy Analytics.

Apple AAPL Analysts are divided on whether this spells trouble for the Swiss watch industry, with some saying the end is near. Others point out that the mechanical watches certified in Switzerland are still bringing in more revenue than theWatch.

"The Apple Watch has emerged as a status symbol of its own, and offers a competitive alternative to mid-range Swiss watches," Steven Waltzer, senior analyst at Strategy Analytics, told CNN Business. "Apple's massive customer base means that converting just a small percentage of iPhone users to Apple Watch users yields volume in the millions."

The Apple Watch, which can track fitness levels and link to apps for faster check-ins at the movie theater or the gym, appeals to younger generations, while analog watches are popular among an older demographic, Strategy Analytics pointed out in a report.

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