Apple set to lose $300 million over Apple Watch sales ban

If Apple follows through with its intention to halt sales of its Apple Watch Series 9 and Apple Watch Ultra 2, it will cost the company $300 - $400 million.

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In an exclusive report to 9to5Mac, Apple said it will be halting the sales of its Apple Watch Series 9 and Apple Watch Ultra 2 following a recent ruling by the International Trade Commission (ITC).

Apple set to lose $300 million over Apple Watch sales ban 561

The recent ruling by the ITC involves a long-standing patent dispute between Apple and medical technology company Masimo. The debate focuses on the ownership of the blood oxygen sensor technology found within the Apple Watch Series 9 and Apple Watch Ultra 2. The recent ruling resulted in Apple informing the aforementioned publication that it would no longer be able to sell Series 9 and Ultra 2 after 3 pm ET on Thursday, December 21, with in-store inventory set to expire completely after December 24.

Now, Wedbush Securities analyst Dan Ives has estimated that Apple will lose between $300 and $400 million if the company follows through with the sales halt of both watches. Notably, this blow to Apple's total sales will be similar to taking out a bucket of water from a lake, as Apple is expecting to generate nearly $120 billion in sales during the October-December period. Due to the company's solidified position, the announcement of sales halting for the two Apple Watch's didn't cause stock prices to drop.

"Apple strongly disagrees with the order and is pursuing a range of legal and technical options to ensure that Apple Watch is available to customers," a representative for Apple said in a statement to Business Insider. "Should the order stand, Apple will continue to take all measures to return Apple Watch Series 9 and Apple Watch Ultra 2 to customers in the US as soon as possible."

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NEWS SOURCE:businessinsider.com

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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