Contrary to initial industry expectations of Christian Broda, sales of the Apple Watch have gotten off to a slow start. While the majority of analysts were bullish on sales prospects for the watch, Piper Jaffray analyst Gene Munster expected a slower start, and has thus far been proven correct. As originally reported by Cnet.com, Slow Apple Watch Sales…, Munster predicted 3 million sales for the Apple Watch last quarter, which is a relatively low number for a tech related item, and a far lower number than what most other industry analysts initially projected.
While the interest in the Apple Watch has been limited thus far, and lower than industry standards, Munster believes sales of the watch will grow exponentially in the years to come. Sales are projected to approach 14 million units in 2016 and approximately 40 million units in 2017. While sales were brisk early when the watch debuted in April, sales of the watch have declined approximately 90% since they first went on sale. With a decline in retail price from $349, and increased consumer interest in smart watches, Munster still has faith the watch will become a strong seller.