How Apple Took Over the Smartwatch Market

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How Apple Took Over the Smartwatch Market

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Apple’s new watch has been one of the most anticipated smartwatch launches to date.

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It’s the first new product line under CEO Tim Cook, and it’s launching just as the wearable tech market is taking off.

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But the Apple Watch isn’t the first of its kind.

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There are plenty of other strong smartwatch competitors already on the market.

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Take a look…

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The Samsung Galaxy Gear S.

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The LG G Watch R.

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The Pebble Time.

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And Motorola’s Moto 360.

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According to Canalys, 4.6 million smartwatches were shipped in 2014, and Samsung leads the pack.

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Source: Statista.

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Smartwatch shipments are expected to skyrocket this year, to 40 million.

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Considering Apple wasn’t even in the running last year, it’s got a lot of ground to make up.

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And it’s going to do it very fast.

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Business Insider said the Apple Watch will account for 40% of smartwatch shipments this year — and 48% by 2017.

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More conservative estimates by CCS Insight still put Apple Watch market share at 25% of this year.

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So why is Apple expected to outpace the competition so quickly?

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Because the company has smartly focused on the design and luxury aspects of its new device, just as smartwatch users are starting to care about both.

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Gartner says we’re entering the second phase of wearable tech, where users want more fashion and style from their wearables.

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And that will give Apple an advantage against the competition.

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“Major wearable device makers like Samsung Electronics and LG Electronics will have to modify their strategies to follow the changes in the market.” - Angela McIntyre Research Director at Gartner

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But that’s not Apple’s only angle.

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Forrester Research says Apple will beat the competition because of its “trusted relations with consumers and its second-to-none ecosystem.”

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And all of this is already starting to pay off.

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KGI Securities estimates that worldwide pre-orders of the Apple Watch topped 2.3 million units.

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That’s nearly twice the amount of Samsung smartwatch sales in all of 2014.

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So while strong competitors beat Apple to the smartwatch space, it appears the Apple Watch is now the real threat in the wearables market.

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