Most people still do not own an Apple Watch, or any other brand of smartwatch. But enough people have bought such wearable devices to enable Apple to make another $5 billion.
In a conference call with analysts, Apple CEO Tim Cook said the company’s wearable tech products – Watch, AirPods, and Beats headphones – were doing well.
As reported by FT.com, Cook said: “Our revenue from wearable products in the last four quarters was the size of a Fortune 500 company.”
According to research by Strategy Analytics, Apple shipped the largest number of units in the wearables market.
Global wearables market
Growing the market
After having captured the lead, Apple is moving to expand the wearables market. Its Watch is ticking along nicely, so that might not see too many radical changes. But the company is making one or two acquisitions which point to its future direction.
Like Google and IBM, Apple has developed an interest in the health sector. Cook, who is said to be a fitness fanatic, was reported to have tested a glucose-tracking device connected to an Apple Watch he was wearing.
Measuring glucose levels – or blood sugar levels – is something people with diabetes do. These levels need to kept within certain parameters, otherwise it could spell danger for the person with diabetes.
CNBC says Apple is currently working on the “holy grail” for diabetes – a non-invasive, continuous glucose monitoring system.
And although it may not be considered a wearable, Apple has also recently bought a company called Beddit, which is a sleep monitoring technology.
Beddit involves placing a “thin, flexible soft sensor” under your bedsheet, on top of the mattress. The connected device then collects and analyses sleep-related data, such as: sleep time and efficiency; heart rate; respiration; temperature; movement; snoring; room temperature; and room humidity.
It’s not the only sleep monitoring device or technology on the market, but as is usually the case with Apple, it will probably take the lead and turn it into a multi-billion-dollar market.