The Apple Watch Exceeds Expectations

Apple-Watch- and iPhone 6Apple has yet to release the number of Apple Watches sold, but one analyst believes that he has figured out how many units Apple has sold and how much the division is worth.

Longtime Apple analyst Neil Cybart says that the Apple Watch business is worth $10 billion. In a comparison, Fitbit and GoPro are worth $3 billion and $2 billion. He believes that Apple has sold 12.1 million Watches and generated about $5.7 billion in revenue.

Apple already has a $10 billion Apple Watch business on its hands,” Cybart writes. “This is even before all of the significant changes in watchOS 3 were unveiled on stage at [the 2016] WWDC. Rather than pressing a reset button, Apple is systematically going through the Apple Watch business to fix friction points that developed over the first year. All of this is being done to position the Watch for improved adoption and a valuation much greater than $10 billion.

Even though some critics have said that the wearable is a failure, Apple says that the Apple Watch is exceeding its expectations. During the holiday season the Apple watch smartwatch market share was 80 percent according to analysts at the Glance conference. However, it’s hard to tell exactly how many units have been sold since the company has been keeping a tight lip. One of the reasons for this is because Apple says that sharing information would help its competitors.

The Apple Watch was first introduced April 2015, if Cybart is correct this means that in 14 months the wearable has grown into a $10 billion business.

source info: Fortune

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