Apple estimated sales of HomePods in fiscal Q2 2018
According to Strategy Analytics, Apple (AAPL) shipped approximately 600,000 HomePods in the quarter ended March 2018. This gives Apple a 6.0% share in the smart speaker market. The Apple HomePod is priced at $349, which is higher than the price point for comparable products such as the Amazon (AMZN) Echo. Echo is the market leader with shipments of 4.0 million units, a rise of 102.0% YoY (year-over-year).
Google (GOOG)(GOOGL) ranks second in the home devices space and reported shipment growth of 709.0% to 2.4 million units. Alibaba (BABA) ranked third in this market with 700,000 units and market share of 7.6%.
Earlier this year, Apple analyst Ming-Chi Kuo expected Apple to sell 2.0 million–2.5 million HomePods by the end of 2018. This forecast sales figures could generate revenues of ~$700.0 million for Apple. However, analysts believe that Apple HomePods are not selling as heavily as previously estimated, which could lead the tech giant to introduce a lower-priced product in this sector.
Google to lead the market by 2022
Loup Ventures expects Google to lead the global speaker market with a share of 48.0% by the end of 2022. The venture capital firm expects Amazon (AMZN) to follow with a market share of 37.0% and for Apple’s market share to reach 12.0%. Amazon’s Echo was launched in 2014, followed by Google Home Devices in 2016 and the HomePod in 2018.