TL;DR
Apple plans to disrupt the $200 billion eyewear market the way it disrupted watches. Swatch fell 28%, Fossil fell 70%. Smart glasses are aiming for late 2027.
When Apple introduced the Apple Watch in 2015, there were several dominant companies in the mid-range wristwatch market. The Swatch Group sold watches under Tissot, Hamilton and Longines. Fossil Group is sold under Michael Kors, Armani and Kate Spade. Movado was sold under Coach, Hugo Boss and Tommy Hilfiger.
After ten years, the damage can be calculated. Swatch’s revenue in 2025 is 28% lower than in 2014. Fossil’s sales are down nearly 70%. Apple has been the world’s largest watchmaker by unit volume for several years, and last year overtook Rolex as the number one watch brand by revenue. Apple Watch now brings in about $17 billion in revenue annually.
This was reported by Mark Gurman from Bloomberg Apple is planning the same playbook for glasses. The company sees the $200 billion global eyewear market as a bigger opportunity than watches, and intends to directly compete with products sold between $200-$500 dominated by EssilorLuxottica (Ray-Ban, Oakley, Persol, Oliver Peoples), Safilo Group (Tommy Hilfiger, Hugo Boss and Warby Parker).
The addressable market is staggering. The World Health Organization estimates that 2.2 billion people worldwide suffer from some form of visual impairment. Hundreds of millions of pairs of glasses are sold every year. Apple believes the brand, industrial design, iPhone integration and AI features will entice people looking for a new pair of glasses to buy an Apple pair instead.
The first Apple Glasses, codenamed N50, were originally scheduled to arrive in late 2026, early 2027. Delays have pushed the launch date to late 2027, Gurman says. The product will feature oval-shaped cameras, unique colors and multiple frame styles. Over time, Apple believes that glasses can become a health device and eventually incorporate augmented reality.
The meta has a significant head start. In 2025, Ray-Ban sold more than seven million smart glasses and controls about 82% of the smart glasses market. They have a retail partnership with LensCrafters and are constantly introducing new models, with more coming in June. Meta is also a leader in AI features and has the advantage of working with Android, which is globally larger than iOS.
Apple’s historical refusal to support Android gives Meta a permanent hold on this side of the market. Ironically, Apple’s entry could benefit the Meta by generating wider consumer excitement about smart glasses, with Android users then being funneled to the Meta models.
Meta is also expanding its wearables strategy beyond eyewear. An internal memo leaked this week confirmed that the company is developing an AI pendant.What is worn for work” enterprise subscription.The competitive landscape expands before an Apple product even ships.
The risk for Apple is timing. Every month the delay gives Meta more users, more retail presence, and more information about what consumers want from smart glasses. The product depends on the updated Siri, which is already two years late. The new Siri app in iOS 27 may still be running as a beta.
Tim Cook described glasses as his top priority. Incoming CEO John Ternus is the driving force behind the project. Vision Products Group, which manufactures glasses, has been operating under his leadership for the past two years. Support from the highest levels of Apple is not in question. Execution schedule.
Not all eyewear companies need to worry. High fashion brands such as Cartier, Lindberg, Jacques Marie Mage and Maison Bonnet that sell glasses for thousands of dollars are likely to continue to thrive. Apple has never made a meaningful impact on the luxury watch market, despite its attempt at a $10,000 gold Apple Watch. Rolex generated nearly $14 billion in revenue last year, more than double its sales a decade ago.
The target is the mass market, not the luxury segment. Apple follows Swatch, Fossil and Movado, followed by EssilorLuxottica, Safilo and Warby Parker. The pattern is clear: get into an established consumer products market, offer something that integrates with the iPhone, and expect incumbents to see declining returns.
The Apple Watch business itself is facing new competitive pressure From screenless wearables like Whoop, Oura and Google’s Fitbit Air. The company needs a new hardware growth category. Glasses, if executed well, can be. The addressable market is not millions of users. That’s billions.
Gurman also revealed that iOS 27’s Siri app will sync conversations between devices via iCloud. Early work has begun on iOS 28 (codenamed Bell) and macOS 28 (codenamed Poppy), with next year’s releases expected to be “more significant” than the iOS 27 updates. The new Apple TV set-top boxes and HomePod mini are almost here, with the new Siri launch delayed by months.
