The new device, Apple's first that connects to the internet without being tethered to a smartphone, took the USA mobile giant to 3.9 million shipments in the recent Q3 2017, according to new data from Canalys. (NASDAQ:AAPL) is again back at the top of the list of global wearable band market.
Apple shipped 2.8 million units of wearables in the third quarter in 2016.
After a short disruption by Xiaomi, Apple Inc. The U.S. tech giant shipped 3.9 million units of wearables in the third quarter of 2017. Their increase in third quarter shipments was, however, more than offset by slowing demand for fitness trackers.
But wireless carriers may have underestimated demand and the LTE-capable model could prove more popular in coming quarters, Canalys analyst Jason Low said.
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The other gainers on both the indices were Axis Bank, Reliance Industries, Bajaj Auto and Mahindra and Mahindra. Weakness rubbed off on broader markets, with mid-cap and small-cap indices falling by up to 0.22 per cent.
Have you or are planning on buying an Apple Watch Series 3 before the end of the year? "The ability to go for a run with just your Apple Watch, or go for a quick errand without your phone, while staying connected, is a game changer", Apple CEO Tim Cook said during the recent earnings call.
Despite strong shipments, the Apple Watch Series 3 did not reach its full potential in Q3. Apple also released the new WatchOS 4 operating system for all Watch generations. According to Canalys estimates, as many as 800,000 units of the Apple Watch shipped in Q3 were cellular-enabled. Despite the late launch in the period, a quarter of the total Apple Watches sold were LTE S3 Apple Watch models. The Chinese government has now disabled the Apple Watch LTE access due to apparent security concerns, but the once the issue is resolved, Canalys expects strong demand from the Chinese buyers as well, according to 9to5mac. No. 400 on the Fortune 500 for 2017 was Calpine, with $6.7 billion in revenue, so we can say Apple's wearables business is at least that large and represents over half of the company's "Other Products" segment, which generated $12.9 billion in revenue in fiscal 2017.
Evan Niu, CFA owns shares of Apple.