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Apple Is Smartwatches King, But Reign Is Tough
Mint Mumbai
|January 08, 2024
In December, Apple was briefly banned from selling its two most recent watch models-Series 9 and Ultra 2-in the US, due to an ongoing patent dispute with Masimo, a medical device maker.
The dispute reflects the rivalry in the smartwatch market, dominated by Apple at present. That position is at stake as competition intensifies.
The fight is crucial for Apple as it seeks to strengthen its revenue streams beyond iPhones. Although the iPhone's contribution to its total net sales has dropped from 62% in 2017-18, it was still a hefty 52% in 2022-23. Meanwhile, the share of wearables, home and accessories, which includes Apple Watch and Apple AirPods, grew from 6.5% to 10.4%.
This story is from the January 08, 2024 edition of Mint Mumbai.
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