Apple Watch takes top spot in booming smartwatch market

The Apple Watch has claimed an early stranglehold on the smartwatch market, according to the latest industry analysis.

A report by Strategy Analytics reveals that the Apple Watch secured a 75 per cent marketshare during the second quarter of 2015, with estimated sales of 4 million units.

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The Apple Watch was released in April this year across 16 countries, receiving generally positive reviews. Although its design has been praised, some reviewers have criticised its battery life and whether it adds enough extra functionality compared with existing smartphones.

The commercial success of the Apple Watch has also provided a significant boon to the smartwatch market as a whole. Worldwide shipments in Q2 grew by 457 per cent to a record 5.3 million units, compared with just 1 million units for the same period 12 months ago.

Senior analyst at Strategy Analytics Rajeev Nair believes that it is now time for Apple’s rivals in the wearable market to react.

“We estimate Samsung shipped 0.4 million smartwatches and captured 8 per cent marketshare worldwide for second position,” he said. “Apple and Samsung together account for 8 in 10 of all smartwatches shipped globally. However, Samsung is a long way behind Apple and it will need to launch multiple new smartwatch models and apps across dozens of countries if it wants to reduce Apple’s global smartwatch leadership in the coming months.”

Despite the industry analysis provided by Strategy Analytics, Apple itself has not revealed sales figures for its new smartwatch. The Cupertino-based firm included the Apple Watch in its “other” category during its quarterly earnings report, along with Beats headphones and other accessories. However, it is likely that the bulk of the “other” revenue, which doubled to $2.6 billion (£1.7 billion), comes from the recently launched wearable.

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However, such are the expectations surrounding Apple launches, that shares fell slightly on Wednesday despite impressive sales of both its Apple Watch and iPhone 6.