Apple Watch sales have plunged by 90% since the opening week, according to a new market-research report from Palo Alto, Calif.-based Slice Intelligence. Apple has been selling fewer than 20,000 watches a day in the U.S. since April, and on some days fewer than 10,000. That is a sharp decline from the week of the April 10 launch, when Apple sold about 1.5 million watches, or an average of about 200,000 a day, Slice estimates.
Slice Intelligence reports that two-thirds of the watches sold have been Sport models, rather than the pricier Apple Watch and Apple Watch Edition models that rake in more profits. Only 2,000 Apple Watch Editions have been sold in the U.S. based on its research.
Slice Intelligence’s data may not be perfect but it is in sync with what some Wall Street analysts have previously said about the Apple Watch. In a note to clients, Andy Hargreaves from Pacific Crest wrote that “store visits, Google search volume, third-party data and recent supply checks all suggest demand for Apple Watch has fallen sharply from initial levels.”
The research firm’s sales estimates are based on e-receipt data from online shoppers in the United States that opted-in to have their inboxes tracked for email receipts.
And yet, Apple has little to worry. Slice estimates that Apple still managed to pull $1.19bn in Apple Watch revenues from the April 10–July 1 period. The Cupertino company hasn’t released any official sales numbers for the Apple Watch, however in an interview at the end of May, Apple VP Jeff Williams told Re/code that sales have been fantastic. The company is outselling all other smartphones on the market, including the lower-priced Pebble models.
And yet, despite Apple’s enthusiasm for the new watch and new software announced at WWDC, AAPL shares are trading at their lowest point in two months today.
Data: Slice Intelligence
