Swatch shuts down technology systems after cyberattack

Swatch Group, the world’s biggest watchmaker, has shut down some of its technology systems after detecting a cyberattack over the weekend, Swiss news agency AWP reported.
Swatch and technology investment“Swatch Group confirms that it has identified clear signs of a developing cyber-attack on some of its IT systems during the weekend,” the company said in an emailed statement.

A shutdown of some of its systems — which the group conducted on a precautionary basis — had affected some of its operations, Swatch said, without specifying which operations were affected. “The situation will return to normal as soon as possible.”

Swatch, which owns several luxury brands including Breguet and Omega, said sales shrank 2.7 percent to 8.2 billion Swiss francs. It posted net profit of 748 million Swiss francs ($770 million, 699 million euros), marking a decline of 13.7 percent from 2018.

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