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Apple Inc. Watch To Add $8.4bn Revenues In First Full Year

Apple Inc. (NASADAQ:AAPL)

Apple Inc. follower Horace Dediu expects watch shipments to hit 21m units in its first full year of sales, and this will generate revenue worth $8.4bn for the firm. Dediu told this while speaking at the first-ever Glance conference.

Apple Inc. Store

Growing popular for various reasons

Philip Elmer-DeWitt of Fortune, who attended the event as a reporter and panelist, said that Dediu calculated an ASP of $400 for the watch over its first 12 months of availability. Apple Watch Sports models with a starting price of $349 or $399 depending on size, were found to be the most popular (no surprises in this).

Another analyst, Ben Bajarin of Creative Strategies, expect Apple to move well-over 100m watch units by 2017. Bajarin estimates are based on the current trends. Dediu’s estimate of 21m units by mid-2016 makes Bajarin’s estimates look gigantic.

Apple’s highly touted health monitoring feature contributed to a better health for 85% of the owners while 27% said the watch helped them lose weight. Apple Watch is a highly popular gift item. Around 82% of the early watch owners said they gifted the gadget to a friend.

Smartwatch market is a relatively new segment with signs of rapid growth, and Apple Inc. dominates it with 80% share, reported Elmer-DeWitt. Dediu said that Apple Watch is not competing with traditional watches rather with naked wrists, adding that 30% of the current watch owners used to live with naked wrists before they started wearing Apple’s watch.

Apple Watch – a remote control for GoPro cameras

As Apple’s watch get popular among the users, more firms are coming up with apps to connect with Apple’s gadget. On Thursday, GoPro updated its iOS app to integrate a new app to the watch. This app turns the wristwear into a remote control for GoPro cameras equipped with Wi-Fi.

GoPro users can perform various functions with the watch app such as starting or stopping the recording, adjusting the settings on the GoPro, and tap for adding a HiLight, which is basically a bookmark that can be added to a certain section of video to make it easier for the wearer to find it in the editing room.

At 9.43 am EDT today, Apple Inc. shares were down 1.41% at $114.59. Year to date, the stock is up over 4% while in the last one-month, it is down almost 1%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.