Apple has been doing quite well with its wearable Apple Watch
The Apple Watch was launched by the company in April, 2015. The product has been a success story as of yet where other companies like Samsung have been struggling to make a mark in an extremely saturated market. So when Apple Inc. entered the market, they not only expanded this market exponentially but also bolstered its personal growth.
The previous year during the third trimester, the accumulative sales of wearable smart watches was summed up to be a million units. The industry was being dominated by Samsung that held 70% of the market share whereas Fitbit and Sony were right behind. In just a matter of a year, Apple has emerged to be on the top with almost 74% of the market which has now grown by 510% summing up to 6.1 million units in the third quarter of FY15.
So far the tech giant has not unveiled any information regarding its smart watch business but it has been reported by IDC that the firm has been successful in shipping almost 3.6 million units of its wearable tech during the second trimester of FY15. This is the quarter where the Apple product made its debut. As per Strategy Analytics, the sales of Apple Watch have risen by 25% with 4.5 million units during the current quarter where they have conquered almost three fourth of the entire market share. Irrespective of the fact that the company had to deal with supply chain issues along with problems faced during the launch, still they have managed to ship 8.1 million units. The issues are acting like barriers hindering the company’s growth since they had to minimize the demand of Apple Watch from 6 million units to 4 million units since they have not been able to find an effective solution.
Ironically, the sales figures obtained during Black Friday force us to believe that AAPL’s initial forecast might not just be wrong. Daniel Ives, the analyst at FBR Capital reported that the sales of the Apple Watch have increased at Target, Apple and Best Buy before the holiday season kick started.
Before the Black Friday weekend, Best Buy revealed a delectable range of Apple Watches with a discount applicable on the Stainless Steel and Sports Watch edition. The company is offering a discount worth $50 on the Apple Watch Sports edition whereas the price of the Stainless Steel edition is slashed by $100. These discounts are a great way to lure buyers.