Apple hits $1 billion revenue in smartwatch sales in just 87 days

We plan to wait before we declare the Apple Watch to be the next iPhone – or even the next iPad.

And for CEO of Quantum Networks Ari Zoldan- he says Apple’s dominance in China is likely to stay.

The launch of the Apple Watch has had a major impact on the smartwatch market overall. This was reiterated by Cliff Raskind, Strategy Analytics’ director when he said, “It was the smartwatch industry’s fastest ever growth rate”.

During a call with investors, Apple chief executive officer Tim Cook suggested that the watch’s performance was particularly impressive because it initially was for sale only online and supply trailed demand. The 47.5 million units it sold, while still a third quarter record, was below the estimate of around 50 million units.

“Depending on the average selling price of Apple Watch, the year-over-year revenue increase (in “other products”) indicates between 1.5 million and 2.5 million units”, Juniper said in a statement.

Apple said it expects fiscal fourth quarter sales to be between $49 billion and $51 billion, generally on the low end of consensus analysts’ expectations. “Apple CFO Luca Maestri also remarked that the Watch has sold more than the first iPhone or the iPad in a comparable period – that is 87 days”.

The earnings come shortly after one report claimed the Apple watch sales in the US have fallen dramatically since its debut.

Sales of the iPhone contributed $31.4 billion, or more than half the company’s $49.6 billion in total revenue for the quarter.

In a quarterly earnings report released late Tuesday, Apple folded smartwatch revenues into an “other” category that included money made from sales of accessories such as Beats headphones.

“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”, he said.

Veteran Apple watcher Gene Munster, an analyst with Piper Jaffray, said in a note last week that watch sales won’t do much until 2017.

Smartwatch pioneer Pebble sold 1 million watches over the last three years.

Apple shares declined sharply in after-hours trading despite results beating expectations for profit and revenue.