After a disappointing sales call, analysts predicted that a major share of the loss should be subjected to the poor sales of Apple Watch.
However, statistics has an entirely different story to reveal. According to Tim Cook, the CEO of Apple, the smartwatch has exceeded internal expectations but he didn’t reveal the actual number of units sold since its launch. However, based on the fiscal report submitted by the company and subtracting the revenue made through other products, a leading Apple news website suggests that at least 3 million Apple watches have been sold so far.
Cook added that the company still has a lot of headroom to explore in the coming months. Apple Watch is yet to be launched in major markets including China, India among other countries. The product has witnessed enormous support from customers in every region where it has been launched so far.
Reports confirm that 75% of the smartwatch market share is now owned by Apple. People who never wanted to purchase the product were convinced when Apple launched it and they invested irrespective of its high price tag. Cook believes that in the holiday season of 2015, which is hardly months away, the Apple Watch will fly off the shelves like never before. It will also acquire a major portion of the market share. According to analyst reports, it will dominate the industry and will have 85% of the market share before the end of the year.
Apple’s expectations have been met in Greater China, where the company witnessed 112% increase in sales and made a total revenue of $13 billion. They have sold about 10.9 million iPads and 4.7 million Macs in the country. The company has acquired $202.8 billion in profit from worldwide sales which is a mammoth sum to achieve in such a short period of six months.
Before the Apple Watch was launched, Samsung had the largest market share. The company had 73% market share which plunged to an abysmal 7.5% as soon as Apple announced their product. Rumors claim that the company is also planning to integrate Android apps into the iOS operating system used in the watch, so as to bring in more users on board.
If they manage to do it, they will probably dominate the market by a huge number that might become an impossible target to beat for other watch companies including Samsung and Motorola.