Speaking of what most people don't understand... I'd have to start with the above post.
His post makes perfect sense if you understand the watch business.
Exactly. Casio, Timex, Seiko - companies much more likely to manufacture Apple's watch for them. Most Swiss watch manufacturers are only good at stuffing a $200 Swatch movement inside a fancy case and charging the hell out of it.
Again, many don't understand the implication.
Swatch owns more than watch brands.
They own retail distribution. All the high end boutiques in the various "Beverly Hill's Rodeo Drive" equivalents in Paris, Luxemburg, Tokyo's Ginza district, Hong Kong Kowloon, to the top hotels, luxury cruise liners to airport gift shops.
They own Tourneau. If Apple wants to have their watches show-cased at Harrods in London, Swatch is the company to use. However, that is what the Tag Heuer hire is for.
They own manufacturing and testing equipment.
Apple needs Swatch more than anything. Swatch has worked with rare materials including Liquid metal. Their subsidiary knows how to bend and make curved sapphire crystals with anti-reflective coating. They know how to assemble that same crystal in cases (that they manufacture) that has high tolerance like going 3000 feet under water. This is expertise in manufacturing.
They know a few things like metallurgy and dealing with allergens. Some people strapping a piece of metal on their wrists gives them allergies. Swatch (through their brands) have decades of expertise that Apple has no experience with whatsoever. They know how to work with precious metals.
They make the little crowns, pins. So if Apple wanted to make a case that use a $600 alligator brown calfskin leather strap, well, Swatch owns the widget companies that make those parts.
The point is, Apple needs the expertise of someone like the Swatch Group if they want to break into to the mid-range to Luxury market.
If the Swatch
GROUP was an electronic gadget company it would be comparable to an imaginary company that owns all of these under one umbrella: Qualcomm (for SOC), Sharp/LG for screens, Gorilla Glass, Panasonic for batteries, HTC as a brand, Fox-Conn as the assembly plant, and Best Buy as the retail distribution channel all-in-one.
This is all theoretical as I doubt Swatch would ever want to get in bed with Apple. At most, they treat Apple as just another consumer who wants to buy from their suppliers.