Really ? That surprises me. I thought only top-end watches were still mechanical and assumed the quartz watch was ubiquitous.
Your point about the Rolex is true. I have one (and an Omega Seamaster, both of which were left to me) and they are too bulky for everyday wear. Plus the Seamaster only tells the correct time once every 24 hours.
Don’t we associate Apple technology with being slim and beautiful ? 1.25cm might be beautiful to some, but slim it ain’t.
People don't really wear watches on the low end and the Swiss watch industry sells something like 30? 40? Billion dollars worth of watches annually, most of that is probably from mechanical.
Japanese big three watch groups (citizen, seiko, Casio), in 2010, were doing revenues of about 700m, 1.3b, 800m. So unless those numbers have grown significantly, it's not a huge chunk of the market.