Apple Inc. (NASDAQ:AAPL)’s foray into the personal luxury goods market was greeted with an instant success by technology enthusiasts. Within few hours of preorder sales of Apple Watches, customers placed a record one million orders for possessing the device.
In view of the inadequate stock of Apple Watch, customers will have to bide their time for another one month before placing orders for the new major product.
The Apple Watch is available in two sizes – 42mm/38mm and is laced with three attractive designs – aluminum alloy, stainless steel, and 18-carot gold. The cost of an Apple Watch is in the range of $340 to $17,000.
JMP analysts believe that long wait times would work to the advantage of Apple as it stirs up demand for the watch.
In contrast, the tech major’s rival companies such Motorola, Samsung, and Pebble are not able to create a real impact on the smartwatch market though they have been into it for some time. With Apple holding 55% share in global smartwatch shipments, the sale of Samsung and Sony is sure to go down in the coming months. Coupled with this, Apple’s brand image and stylistic design have accorded it in a strong position in the market.
Cowen Group, the US-based financial services company, which has been tracking the progress of Apple for many years and evaluating the firm’s product launches, had showered praise on Apple. Market experts representing the firm said that the former is ahead of its expectations and would be able to quicken the production of two million Apple Watches in the current year itself.
Apple’s alliance with Selfridges is the success story behind the popularity of Apple Watch. The partnership can change the face of technology retail, predicted a Telegraph Reporter.
An ecstatic customer who has visited the online store at New York said that Apple Inc. (NASDAQ:AAPL) has the makings of a perfect wedding gift, and he would do exactly the same for his wife.
The new product is slated for a grand online release on 24th April.
