Matthew Waterman
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Matthew Waterman in Brand Power,

Apple Is Selling Twenty Times As Many Smart Watches As Anyone Else

Research from analyst firm Canalys estimates that Apple (AAPL) may have sold as many as 7 million Apple Watches in the 2nd and 3rd quarter of this year. Their next closest competitor, Samsung has not been able to move more than 300,000 units during that same period.

Other watchmakers are looking to get into the arena with Alphabet (GOOGL),(GOOG) Android-based watches, including Fossil (FOSL) and LVMH Moët Hennessy Louis Vuitton SA (LVMUY). Competing devices will use chips made by Intel (INTC), and will cost around $275. The entry level Apple Watch runs $349. 

LVMH plans to introduce a Tag Huer version of their watch that will retail for $1800. It is intended to compete with deluxe models of the Apple Watch that sell for as much as $17,000.

Apple closed down 56 cents today to $120.92/share. Alphabet closed up $5.36 to $760.67. Fossil up $1.66 to $55.54, Intel closed down 15 cents to $34.00. LVMH closed up 33 cents to $37.81.