Apple Watch Overtakes Rolex to become best-selling watch in the world

The Apple Watch has surpassed Rolex as the best-selling watch in the world

Despite many around the world being skeptical about the prospects of the Apple Watch when it first launched, the product has gone on to make great strides since it was introduced just three years ago.

Take, for example, what Jean-Claude Biver, luxury watch industry guru and the CEO of Tag Heuer, said about the watch soon after it was launched.

“It looks a little cold, and lacks, for my taste, a bit of personality. It looks perfect, but perfection sometimes has a lack of sexiness . . . This won’t create another crisis for the Swiss watch industry,” Biver was quoted as saying in the Wall Street Journal.

Little did he know that only two years later, the Apple Watch would top all of its rivals.

The Apple Watch has gone on to surpass Rolex as the highest-selling watch brand in the world. While Rolex made an impressive $4,6 billion in sales, the Apple Watch made a whopping $6 billion.

Speaking to attendees at Apple’s annual keynote event held earlier this month, Apple CEO and the brainchild behind the Apple Watch, Tim Cook, announced that the product is the number one watch in the world and enjoyed 50% year-on-year sales growth in August, reports Business Insider. 

A report by Canalys estimates that Apple sold 11,9 million watches in 2016 and says that the massive sales growth has to do with both Apple’s re-aligned pricing (with the launch of new products) and streamlined marketing.

“Apart from the hardware and software improvements of the new models, Apple succeeded mainly due to its streamlined marketing and re-aligned pricing, which helped it address a wider audience. The Series 1’s lower entry price and Apple’s more focused fitness messaging made its Watch both more attainable and more relevant,” Canalys said in a statement.

The company recently launched its latest watch, the Series 3, which has improved health and fitness capabilities. Owners of the watch will now also be able to make and receive phone calls, stream music, and access Siri.