Apple Watch sales have gone down dramatically over the past few months. According to the reports, the sales figure of Apple Watch plummeted by approximately 55% in the second quarter of the year. This is probably the sins that the market is not completely ready for such wearable devices. On the other hand, other market experts believe that some potential customers might just be waiting for the next level Apple Watch to come out. This wait for the nextGen Apple Watch seems to be the reason behind the plunge in the sales figures.
The global market for Smart Watches has also plunged quite a bit. Overall, only 3.5 million units of Smart Watches have been sold during the second quarter of the year. This is a 32% dip from the sales recorded during the first quarter of the year. Apple Inc. just registered 1.6 million units sold during the last quarter, which is nearly half of what it sold during the first quarter.
Although Apple Inc. has held on to its position at the top, they have seen the worst plunge in numbers as well. Apple Inc. is the only company amidst the top 5 to lose out on market share. Apple currently has 47% of the market. Samsung on the other hand literally doubled its market share and holds 16% of the market now.
According to an IDC analyst, “Consumers have held off on smartwatch purchases since early 2016 in anticipation of a hardware refresh, and improvements in WatchOS are not expected until later this year, effectively stalling existing Apple Watch sales. Apple still maintains a significant lead in the market and unfortunately a decline for Apple leads to a decline in the entire market.” The drop for Apple Inc. for Apple Watch is expected till 2017 and then the market share will supposedly rise.