When it comes to revealing Apple Watch sales figures, Apple has kept its lips more tightly sealed than a swimmer in a sewage tank.
One of the ways it’s done this is hiding the Apple Watch numbers under the “other products” category in its SEC filings — alongside the iPod, Apple TV, Beats Electronics, and assorted accessories.
That doesn’t mean we can’t gauge something from looking at Apple’s new U.S. Securities and Exchange Commission documents, though. And despite keeping hush-hush about it, it seems the Apple Watch isn’t doing too badly for Apple at all.
“Apple Watch, which was available less than half of FY 2015 still ‘accounted for more than 100% of the year-over-year growth in net sales of Other Products.’ A little math: Other Products grew from $8.379 billion in 2014 to $10.067 billion in 2015. That means Apple has sold at least $1.688 billion worth of Apple Watches. But as the statement implies, the actual figure is higher in a category that was dragged down by falling iPod sales.”
If Apple can continue this pace, it’s not out of the question that the Apple Watch could be a $5 billion business for Apple in the current fiscal year. True, those figures hardly make it a threat to the iPhone as Apple’s biggest seller, but it’s certainly promising.
Considering that even Apple wants to be less reliant on its iPhone cash cow (as seen from the line, “[Apple] generates a majority of its net sales from a single product and a decline in demand for that product could significantly impact quarterly net sales”) that’s good news.
Hopefully it means analysts can finally take a realistic stab at Apple Watch sales, rather than plucking numbers out of thin air.