The study by consumer analysts Mintel has revealed that one in seven people says mobile phones and computers have made traditional watches obsolete; it found 86 per cent still own a wristwatch -- even if they no longer rely on it to know the correct time, the 'Daily Express' reported.

The under-25s, who have grown up carrying around mobile phones, are half as likely to own a watch as the older generations, according to the British study.

Those young adults who do own a watch, however, are more likely to choose a designer brand and spend a significant amount of money on it -- 25 per cent compared to 13 per cent of older people -- suggesting fashion is more important to them than time-keeping, the study found.

The study, based on a survey, also found a quarter of Britons were prepared to pay more than 250 pounds for a watch and one in seven more than 1,000 pounds.

Tamara Sender, senior fashion analyst at Mintel, said: "Many consumers have grown up with technology and are just as likely to associate the notion of checking the time with a mobile handset as with a watch.

"As they grow older this mindset will accompany them. Mobile phone ownership is booming and increased usage by all ages could pose a threat to demand for standard watches in the longterm.

"However, with the popularity of alternative time-pieces, watch manufacturers are focusing on other aspects such as design and the latest technology to keep consumers interested."