This statement addresses the fact that Comco is still requiring Swatch to produce these 1.5 million calibers per year, in spite of dramatically limited demand. I have heard stories from sources in Switzerland that the group once famous for declining to sell movements to people is now "going door to door" offering movements to anyone who will buy them. Because of this, the Swatch statement reads, "In order to cover the additional costs arising from this enforced readiness to deliver, ETA will have to consider massive price hikes."

One can make their own decision on who is right and who is wrong in this matter, but one thing is clear – raising the prices of calibers when sales of these movements, and in fact all modern watches in general, are struggling is going to make things even more complicated.

You can read the full Swatch Group statement here.