The Apple watch might not be the winning product Apple anticipated, according to market research firm Slice Intelligence. Since its US launch five months ago, sales have dropped as much as 95 per cent.
To gather this data Slice Intelligence tracked electronic receipts sent to Apple watch buyers after their purchase.
The market research company estimated Apple sold 1.5 million smart-watches in its first week of sales. Currently, US Watch sales have dropped to fewer than 10,000 to 20,000 a day.
Two-thirds of the watches purchased are the cheaper model, the ‘Sport’ version, which retails at $US349. The $US10,000 gold ‘Edition’ model, which is priced at $US10,000, has sold less than 2000 in the States.
“The Apple Watch is the first completely new product the company has created and launched since the death of its visionary founder, Steve Jobs, in 2011. How well the watch fares may be one measure of how well Apple may be able to maintain the standards of excellence in innovation, marketing and production it achieved under Jobs. Investors are used to seeing new products, such as the iPhone and iPad, fly off the shelves as soon as they are launched,” wrote Brett Arends, author of the report.