Apple Owns Half Of Smartwatch Market In World

apple owns half of smartwatch market in world

The US based tech company Apple is back in the business. The company recently witnessed record-breaking sales of its just launched iPhone 11 series. Now, the iPhone maker has taken a new leap in the smartwatch industry. It has successfully retained its top rank in the global smartwatch market with an impressive rise in the sale. Market research firm Strategy Analytics said that Apple Watch shipments grew remarkably in the third quarter of the current fiscal. The company shipped 6.8 million units in this period. This figure is 51 percent more than the business it did a year ago. Apple sold 4.5 million units of the wearable in the third quarter in 2018. The record rise in the sale of smartwatch has helped the Cupertino headquartered firm to establish its lead over strong rivals like Fitbit and Samsung. Apple now owns half of the smartwatch market in the world.

Apple Watch is the flagship product in Apple’s wearables collection. Among the portfolio, its smartwatch has long been the best-selling product in the world. Apple CEO Tim Cook recently revealed that company generates over 50% revenue from the wearables. Apple Watch Series 5 has attracted a good business for the company. It was launched in September this year. The Watch Series 5 comes with attractive features and makes it more popular among the users. The new smartwatch has a health feature that makes the owner serious about personal goals. Also, it has an always-on retina display, a built-in compass, and international emergency calling.

According to Strategy Analytics, Apple is followed by Samsung. The South Korean multinational conglomerate shipped 1.9 million smartwatches worldwide in the third quarter of the current fiscal. This is almost double from 1.1 million units the company had shipped a year ago. The company expects to improve its smartwatch presence globally in the next quarter with its new models like Galaxy Watch Active 2. The market share for Google-owned company Fitbit, however, witnessed a downward trend. The company shipped 1.6 million smartwatches in the third quarter of 2019. This is four percent less from the business the California based company did in the previous year. Notably, Fitbit recently signed an agreement to be acquired by Google.

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