Apple’s magic formula for success has continued with the Apple Watch. The highly-sought after smart watch dominated the market with nearly seven million units sold since launch, according to Canalys.
And this figure in just two quarters exceeds all other vendors’ combined shipments over the previous five quarters. That’s simply amazing!
In Q3, Apple was the only smart watch vendor to ship more than 300,000 units. The quarter also saw the release of the Pebble Time Steel, which helped the company ship more than 200,000 total smart watches, while Samsung’s Gear shipment declined ahead of the Q4 release of the Gear S2. Vendors will continue to battle for position behind Apple in Q4 as a raft of new devices from a diverse set of companies hits the market. For example, both Fossil and Tag Heuer will be launching their first smart watches before the end of the year.
Fitbit and Xiaomi meanwhile lead the market for basic bands in Q3. Xiaomi’s Mi Band surpassed 10 million cumulative shipments during the quarter. Aggressive pricing and frequent promotions have allowed it to hit ambitious sales targets, especially in China. Fitbit managed to realise sequential growth in Q3, and its Charge HR band has continued to perform strongly since its introduction.
All eyes will be on Apple Watch sales during the Q4 holiday quarter as a barometer of the strength of the nascent smart watch market. “After experiencing significant supply chain constraints early on, Apple managed to overcome its production struggles with the Apple Watch and is building momentum going into Q4,” said Daniel Matte, Analyst of Canalys.