In spite of the lowering of the price of tracking devices of activities, the price of smartwatches experienced a great hike. All thanks for this goes to Apple, as because of the availability of the best‐priced watch, Apple Watch, this incident occurred. According to the reports, this surge took place in the first quarter of 2016.
Turbulence of price among the objects
According to the research performed by Future source Consulting, because demand overpowered supply, the average cost of the wearable devices have increased 50% year by year and reached to $218 and this is a good news, as this in a way helped to counter‐balance the decreasing price of the activity trackers which still are a popular device on sale. The smartwatches are costly catches and the activity trackers, a cheaper one, but their combined growing sale upped the global revenue of retail sales to a mammoth 133%.
From last year only, the prices of the activity trackers started decreasing but this shrink in cost and increase in alluring features made them popular. Also the increasing popularity of the smartwatches has grabbed the attention of customers from other fitness and health devices. To fight these stuffs, certain plans are applied. On one hand, the sellers are shifting their focus to other accessories. And, on the other hand, companies made partnerships. Fossils bought Misfit, Nokia Withings and Fitbit Coins.
Why blame Apple?
Apple is to be blamed because Apple’s Watches were not previously available though launched; it reached the market only in the first quarter of 2016. However, near the end of it Apple lowered the price by $50! In spite of which it still remained very high than the market average of $218. In terms of revenue, Apple is the largest watchmaker, behind Rolex and Swatch but in front of Casio, Fossil, Richemont etc.
