Have you or are planning on buying an Apple Watch Series 3 before the end of the year?
That's according to research firm Canalys, who suggests that the Cupertino giant managed to ship 3.9 million units of the Apple Watch for Q3 2017. "In fact, our entire wearables business was up 75% year over year in the fourth quarter and in fiscal 2017 already generated the annual revenue of a Fortune 400 company". Xiaomi, which led the global wearables space briefly, has slipped down to the second place, shipping 3.6 million wearables, while Fitbit is in the third spot after shipping 3.5 million units.
Apple has retaken the top spot from Xiaomi to become the market leader for wearables on the wrist. (NASDAQ:AAPL) is again back at the top of the list of global wearable band market. Tim Cook noted that "With unit growth of over 50% for the third consecutive quarter, it continues to be the best selling and most loved smartwatch in the world". CCS Insight believes Apple could have sold more as Watch 3 only went on sale in the third week of September, about halfway through the Quarter, and supply was constrained.
"Strong demand for the LTE-enabled Apple Watch Series 3 has dispelled service providers' doubts about the cellular smartwatch not appealing to customers", said Canalys Analyst Jason Low. This meant overall wearable market shipments declined 2% to 17.3 million units, in what is traditionally a slow quarter as consumer hold off on purchases until the Christmas period. Plus, more than one in five of the Apple Watch devices sold was apparently a cellular model (4G).
Despite strong shipments, the Apple Watch Series 3 did not reach its full potential in Q3.
The drop in the prices of the previous generation watches following the launch of the Watch Series 3, also helped Apple to push watch sales.
In China, the Apple Watch LTE access is now disabled by the government. With figures of the Q3 2017 coming into the picture, Apple has 23 percent of the market share.