Analysts: Apple will sell more than 10 million iWatches in its first year

Along side other iDevices, the long-awaited iWatch (name unconfirmed) will apparently be unveiled by tech giant Apple later today. Even though the device is still in rumour phase, people have already started placing their bets.

New reports by independent technology and market research company, Forrester Research, has come out and said that the Cupertino giant will sell more than 10-million wearable devices in its first year.

As quoted by the Financial Times, sales numbers based on other popular wearable devices give us a good indication of Apple’s new device:

“Forrester Research believes Apple will sell as many as 10-million iWatches in its first year. That, Forrester says, is more than all the other manufacturers of wrist-based wearables have sold to date, including Nike’s Fuelband fitness tracker, Samsung’s Gear smartwatches and devices by younger companies such as Fitbit and Jawbone.”

To put that number in perspective, Apple sold a combined record-breaking 9 million iPhone 5S and 5C smartphones in their first full weekend of sales only.

Samsung’s Galaxy Gear, on the other hand, reportedly sold over 800 000 within the first five months of its launch.

According to Forrester Vice President, JP Gownder, Apple’s new device will win over the smartwatch market due to some key characteristics that’s essentially unique to Apple.

Apart from innovative health-tracking tech, the smartwatch is said to be very fashionable. This is what these high-tech smartwatches should be by default and something which Samsung and LG have been struggling with.

Backed by Apple’s strong brand exposure, “People are willing to pay a premium price for Apple’s products,” argues the report.

Furthermore, partnerships and exposure to key ecosystems are extremely important for the watch to dominate the market. “Imagine if Apple can put sensors on your wrist and phone, yet communicate to you with a whisper directly to the Beats headphones you wear proudly; suddenly, Siri can interact with you in ways that give you a Google Glass-like experience without forcing you to look like a Glasshole,” the report says.

The device is also said to carry NFC payment technology which could change the game of customer tracking and marketing.