First analysts predicted that the Apple Watch wouldn’t sell. Then it obliterated every one of those predictions by selling 1.5 million watches in its first week alone, making it the most successful Apple product launch to date. And now? Well, it appears that everyone who wanted an Apple Watch has one, because people have stopped buying them. Sales have dropped dramatically since its April 10 launch, as much as 90% according to Slice Intelligence, a market-research firm based out of Palo Alto, California. The Apple Watch has gone from selling an average of 200,000 watches a day, to fewer than 20,000.
There’s No Love Left for the Apple Watch
Even worse, according to Slice, is that two-thirds of the watches sold have been the lower-profit Sports version rather than the more expensive models. The good news is that, while a drop of that magnitude is not a normal thing for an Apple product, Apple’s watch business only accounts for about 4% of the company’s value, according to stock-research company Trefis. And sales of a product are generally expected to drop after the surge of its initial release. The bad news, however, is that the Apple Watch is the company’s first major release since the death of Steve Jobs in 2011, which means that all of its current success is still anchored to his legacy. And another worry for Apple is that, despite initial predictions, wearable technology doesn’t appear to be gaining the foothold that tech experts had hoped. First there was the unmitigated disaster that was Google Glass. And now the Apple Watch appears to be flagging. For companies that have invested heavily in a future of wearable technology, that’s not exactly grounds for optimism, according to esquire.com.