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The Apple Watch brought attention to the smartwatch and wearables market, but it looks like initial demand for the watch is dying down.
If you're thinking about purchasing an Apple Watch, you'll be happy to know there are plenty of them available to choose from. Even though some estimate 13 million to 20 million units have sold, the hyped Apple wearable isn't seen as a necessity.
"The initial demand for the Apple Watch looks lackluster," said Brian Blair, managing director at Rosenblatt Securities, in a statement on CNBC's "Power Lunch." "It's not clear what the killer app is. It's nice to get notifications, but it's a nonessential product."
The wearables market is growing, and while analysts can't agree on what the future holds for the evolving market, Intel isn't going to sit on the sidelines and wait it out. Intel recently announced it purchased Recon Instruments, a company known for creating connected eyewear for athletes.
"Going forward, we'll continue leading the smart eyewear category for sports, and we'll be able to bring our technology and innovation to completely new markets and use cases where activity-specific information, delivered instantly, can change the game," said Dan Eisenhardt, co-founder of Recon, in a blog post.
So far in 2015, Intel introduced the Curie hardware model, a new system-on-chip (SoC) designed for wearable products, while also announcing a partnership with Oakley. The company didn't stop there, as Intel will also work with Google and TAG Heuer in the smartwatch market.
If you want to pre-order the Pebble Time smartwatch, you can get it at Best Buy for $199.99. The Best Buy online store has the device, supported by most Apple iOS and Google Android devices, available in three different colors: white, black, and red.
Pebble didn't disclose an official launch date, but the Best Buy website says consumers will begin receiving the products on July 20. Those who contributed to the Pebble Time Kickstarter effort already received their watches, and Pebble is ready to expand sales to anyone interested.
"We're seeing pretty strong demand. We're just focused on making awesome products and getting them into people's hands and on their wrists," said Eric Migicovsky, CEO of Pebble, in a statement published by CNBC. Pebble remains committed to its "grassroots" strategy in regards to marketing, as the company matures.
There are plenty of smartwatches, fitness bands and other wearables that we can choose from, though it looks like manufacturers are still fighting to get casual consumers to spend.
There are a few different barriers that must be addressed, such as the following: lack of persuasive uses, no killer apps, limited functionality, and style, according to a recent Business Insider Intelligence consumer survey.
When asked why they don't have interest in a smartwatch, 51 percent of those surveyed said they simply don't see the point of owning one. Perhaps providing a killer app could help woo new users, and that would essentially kill two birds with one stone.
Huawei has been forced to delay the launch its debut smartwatch, caused by an unknown problem in China. The smartwatch, powered by Google Android Wear, will be released in the United States and Europe sometime during Q3 - and suspected issues stem from Google services used in China.
"We're experiencing some problems with Google's Android Wear [the watch's operating system] in China," Yang said, in a statement published by the Wall Street Journal. "It's a new product."
It looks like Huawei will leave the hardware specifications alone for the watch: 1.4-inch AMOLED (400x400) display, 1.2GHz Qualcomm processor, 512MB RAM, and 4GB of storage capacity. The watch is just 11.3mm thick and is powered by a 300 mAh battery.
It looks like Apple is planning some big upgrades to the Apple Watch 2, with 9to5Mac reporting that the next iteration of Apple's wearable to feature some big improvements.
Apple Watch 2 should feature a FaceTime camera, which will allow you to make video calls directly from Watch 2. One thing that keeps the Watch from really excelling is its constant reliance on the iPhone, something that Watch 2 will hopefully solve. Apple is working on something it's supposedly calling internally "tether-less" that would see Watch 2 having more functionality when not connected to your iPhone.
Battery life is also reportedly set to be improved on Watch 2, where Apple should be able to make the wearable faster, better, and either have similar, if not improved battery life when compared to the current Apple Watch. The last rumor is that there will be a few different models between $1000 and $10,000 - with Apple set to possibly introduce Watch 2 variants based on titanium, tungsten, palladium, or platinum. Prepare your credit cards, people.
The Apple Watch has created a new revenue stream for Apple, and there is something else the company is able to sell along with the wearable: extra watch bands. Almost 20 percent of Apple Watch customers are purchasing at least one extra watch band, according to data Reuters has received from Slice Intelligence.
Apple hasn't issued a statement regarding the number of smartwatch units sold, but Slice believes around 2.79 million units have been sold. However, the entry-level sports band costs just $2.05 to make and sells for $49 - so there is plenty of extra room for Apple to cash in.
The Black Sport Band, Milanese Loop and White Sport Band appear to be the top three favorite extra bands that consumers are picking up. The Milanese Loop is $149, so consumers are seeking an added bit of luxury with their Apple Watch.
The Apple Watch has given the smartwatch sector and wearables industry a boost, but there is still plenty of work left to be done, according to a survey from UserTesting. In its survey, 38 percent of users said they would recommend it, while 35 percent were passive and 27 percent had negative experiences.
Watch owners seemed most frustrated by third-party apps that have proven to be rather clunky - and despite the Apple Watch showing great potential - there are significant performance problems that must be addressed.
"These survey results are not overwhelming," said Michael Mace, VP of mobile at UserTesting, in a statement published by Forbes. "If Apple wants people to get excited and recommend heavily, it needs to get additional hooks. Third-party apps will be the best way."
There are plenty of smartwatches and other wearables hitting the market, but most consumers just don't seem interested enough to buy them, according to a report from eMarketer. Industry forecasts look good, and consumer awareness of wearables is increasing, but trying to convince us to actually purchase a wearable remains difficult.
"Even though the Apple Watch has had early sales success, consumer survey data suggests manufacturers, specifically their marketing teams, have significant work to do in convincing the average person that a smartwatch is as worthy of their time and money as tablets proved to be," said Cathy Boyle, analyst at eMarketer, in the report.
Boyle also admitted that it's difficult trying to gauge the current wearables market, as more products hit the market - and what is categorized as a wearable also tends to change. Even with consumer doubt at the moment, it looks like the future still looks good for manufacturers creating wearables. In February, the Gartner research group said there was 38 percent year-over-year growth - and that trend will likely continue in the future.
Additional models of the Apple Watch will be available for purchase in retail stores starting on June 26, in a move that Apple hopes will increase sales at its retail stores. In addition, the Apple Watch will be released in Spain, Italy, South Korea, Mexico, Singapore, Switzerland and Taiwan on June 26.
"The response to Apple Watch has surpassed our expectations in every way," said Jeff Williams, SVP of operations at Apple. "We're also making great progress with the backlog of Apple Watch orders."
Even though Apple hasn't issued public numbers related to Watch units sold or shipped, company officials said the demand has outpaced current supply levels. S&P Capital IQ analyst Angelo Zino told Reuters that it'd be "plausible" for 30 million Apple Watch units to be shipped in 2016.