It’s no surprise that Apple have reportedly dominated the Smart Watch market. After all, most people have at least heard of the Apple Watch, but few could name the top tier rivals. According to a report undertaken by Strategy Analytics – the Cupertino, California based company dispatched an approximate 4,000,000 Smart Watches during the second quarter of 2015. If these figures turn out to be accurate, it will mean Apple has taken over approximately 75% of the entire smartwatch market share worldwide. This is despite the fact that the Smart Watch from Apple has only been available since the end of April this year. Comparatively, Samsung have seen only approximately 400,000 Smart Watches ship out in the same time period.
The Smart Watch market as a whole is estimated to have grown 457% by the end of 2015 and is expected to increase again by the end of 2016. Whilst Apple themselves have not released any official information on the sales figures of the Apple Watch, Chief Financial Officer Luca Maestri revealed that the Apple Watch was responsible for around $1bn in sales. (That’s one billion dollars, or approximately £640 million). That is quite an enormous amount of money even for Apple. Judging by the amount of money Apple has made from its sales it is quite believable that the company has taken over such a large market share.
It is not surprising that this amount of money has been spent on Apple Watches though, the lowest price one coming in at just under £500 and some versions of the edition going up to £14,000+. The Apple Watch is by far the most expensive product to come out of the California based company since its inception. We will wait for further details on the growth of the Smart Watch market. There is no doubt that the Smart Watch market will continue to grow as they become more affordable and from alternative providers, such as Samsung. As always, time will tell.
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