Apple extends its lead as the world’s biggest watchmaker

Apple CEO Tim Cook provides an update on sales of the Apple Watch (Photo credit: JOSH EDELSON/AFP/Getty Images)

Apple was said to have sold more watches in the fourth quarter of 2017 than the entire Swiss watch industry combined.

Respected technology analyst IDC estimated that Apple Watch sales in Q4 last year reached 8 million units, a figure that Francisco Jeronimo, research director, European Mobile Devices, at IDC EMEA, assured WatchPro is reliable. “8 million will be close,” he said earlier this year.

IDC compared the Apple Watch estimated to Q4 export figures reported by the Federation of the Swiss Watch Industry, which totalled 6.8 million units.

Story continues below
Advertisement

Financial results from Apple and the biggest traditional watch groups suggest the technology giant has extended its lead as the world’s biggest watchmaker.

The Swiss watch industry has had a stellar start to 2018, with LVMH Watch and Jewelry sales rising by 8% for the first six months of the year and Swatch Group up almost 13%.

But Apple Watch appears to have outpaced the traditional watch industry with Apple CEO telling financial analysts on a conference call this week that sales rose year-on-year in the “mid-40% range” in the most recent quarter that ended in June.

Apple does not break down sales by individual products in its financial reports, but Mr Cook was upbeat about emerging technology such as Apple Watch. “Our third highlight of the quarter is the outstanding results in wearables which comprises Apple Watch, AirPods and Beats and was up over 60% year-over-year with growth accelerating from the March quarter. Our wearables revenue exceeded $10 billion over the last four quarters, a truly remarkable accomplishment for a set of products that has only been in the market for a few years,” Mr Cook said.

Authors

*

Related posts

Top