Economy

Apple Inc. (AAPL) Watch Dominates A Dying Industry

Apple Inc. (AAPL) Watch Dominates A Dying Industryā€¯

For many, the Apple Watch is their only watch and, if there were no smart watches, they probably wouldn't wear watches at all.

"The Apple Watch is now the number one watch in the world", Tim Cook told the media event, at the Steve Jobs theatre on Apple's spaceship campus in Cupertino. But it did say that last quarter's Apple Watch sales had jumped 50 percent over the prior year.

When Tim Cook announced past year that Apple was the number two watchmaker in the world, we said that made sense: Rolex is the giant in the watch world, and passing it would be some type of feat. The Apple Watch is also the most widely used heart monitor in the world, according to the company.

The Apple Watch Series 3 has its own mobile connectivity which allows the user to remain connected without a smartphone for phone calls, music and other functions.

CEO Tim Cook said Apple was working closely with the Red Cross's relief and recovery efforts. Apple still compares itself to watch companies even though it is not positioning its watch for fitness, like wearable makers do.

So before we go slapping Apple on the back too much for becoming the world's biggest watchmaker, let's keep in mind that it's not really that huge of an accomplishment in 2017.

Apple doesn't provide official numbers, so all we have is estimates.

Watch exports from Switzerland fell 10% in 2016. It's clear that these improvements have increased sales, and made the Apple Watch more attractive.

According to Strategy Analytics, consumers bought 21.1 million smartwatches in 2016. Early reports say 2017 might be looking better for the Swiss watch industry, but it's a little early to say. If Apple's stats are from 2016, it makes sense that the Apple Watch is now the No. 1 watch globally. We can only wait until next year to find out if the Apple Watch is able to maintain its position as the No. 1 watch globally.

Apple's new Apple Watch 3, with a swathe of new capabilities including built-in cellular, is expected to stoke the smartwatch market.

The watch with cellular connectivity will be available in nine countries September 22 starting at $399, Apple said.



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