Apple now commands 19% share in wearables market in short span of time
After releasing Apple Watch in April 2015, Apple (AAPL) has garnered an ~19% share of the wearables market in the September-ending quarter, according to IDC. Although Fitbit (FIT) leads the worldwide wearables market with a share of 22%, it has lost a lot of market share over the last year.
The chart below shows how Xiaomi has made rapid strides in the last year while Garmin (GRMN) again lost share.
Apple is making an all-out effort to popularize its Watch. In May 2015, Apple and IBM (IBM) added three new apps for Apple Watch. At the June 2015 Worldwide Developers Conference in San Francisco, Apple released watchOS 2, its software update for Apple Watch.
According to Apple, the Watch App Store now has more than 13,000 apps. In the last quarter, Apple introduced new Apple Watch bands and cases, which also helped boost its sales.
Apple increasing the distribution for Apple Watch
More recently, Walmart (WMT) announced that it will start selling Apple Watch after Target (TGT) and Best Buy (BBY) had already started selling it. Support from retailers should help Apple increase the distribution of Watch, which is essential for the success of any product.
Not only Apple is trying to increase the distribution of Apple Watch within the US, it is also looking to increase the number of countries in its distribution network. Apple has already launched Watch in Australia, Canada, China, France, Germany (EWG), Hong Kong, Japan, and the UK. It launched this product in seven more countries in June 2015.