Apple Watch SWOT Analysis Analyzes, The Apple Watch is a smartwatch created by Apple Inc. It includes fitness tracking and health-oriented capabilities as well as incorporation with iOS and other Apple products and services. Apple announced the Apple Watch with three variants. Firstly there is the original apple watch, secondly there is the apple watch sport and lastly there is the apple watch edition, in which the case is crafted from 18 karat gold. Apple will also include a new voice assistant named Cal into the microchip, and the watch will be distinguished by different combinations of cases and interchangeable bands.
Did You Know? Apple sold more watches in 2019 than the entire Swiss watch industry
In the last five years, the Apple Watch has transformed from a niche product for early adopters to a mainstream device. Once seen as a fashion accessory, Apple Watch is now inching towards becoming health and medical device. It is also the most popular watch in the world.
This can only be achieved through a firm with extensive knowledge, experience and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities and threats, it is necessary to conduct a SWOT analysis by Apple Watch.
Apple Watch At A Glance – Apple Watch SWOT Analysis
Company: Apple Inc.
Founders: Apple| The Apple Watch was Jony Ive’s project from the word go
Year of establishment: April 2015
CEO: Tim Cook
Headquarters: Cupertino, California, United States
Employees (Dec 2020): 370,800
Ticker Symbol: AAPL
Annual Revenue (Dec 2020): US$2.3 Billion
Profit net income (Dec 2020): US$1 Billion Approximately
Products & Services: Apple Watch Series 6 | Apple Watch SE | Apple Watch Series | Software support
Company Website: www.apple.com
Top Apple Watch Competitors
Competitors: Samsung Galaxy Watch | Fitbit Versa 2 | Amazfit Bip S | Withings ScanWatch | Motorola Moto 360 | Timex Metropolitan S | Polar Unite
Apple Watch SWOT Analysis – SWOT Analysis Of Apple Watch
SWOT Analysis Of Apple Watch analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Apple Watch SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Apple Watch SWOT Analysis. Below Is The Detailed SWOT Analysis Of Apple Watch.
Apple Watch Strengths – Apple Watch SWOT Analysis
1. An innovative product: A year ago when smartphones began their journey Apple is trying to do similar things by giving consumers an incentive and a product they can be looking forward to the new and exciting.
2. The existing software is supporting the new product: The Apple OS is same and supports iWatch, which is able to integrate different devices.
3. The whole value chain is in place: The entire value chain that includes supplies and worth is in place to support the creation and sales of iWatch.
4. Apple is status: Any Apple product Apple can be an icon of status in a short time. iWatch also has the same royalty as it did at the beginning.
5. Strong brand of Apple is in any case a major advantage: When you’re in an tech-oriented industry and a well-established brand such as Apple is to rely on It automatically gives the necessary initial push to buyers to buy an item.
Apple Watch Weaknesses – Apple Watch SWOT Analysis
1. iWatch can eat Apple’s own products in time: This could be a possibility considering that the goal of iWatch is to incorporate the capabilities of a smartphone into the watch , which could alter the market for a device like the iPhone.
2. Do customer really require this product?: iWatch is one example in which Apple hasn’t been certain that customers are ready to buy the device or not. This uncertainty has kept the product in a state of limbo and should it last for to long, it may cause a fatality for iWatch.
Apple Watch Opportunities – Apple Watch SWOT Analysis
1. High brand awareness Brand awareness: The kind of brand recognition Apple has is the goal of many industry leaders. This provides them with an chance to try with the product in a variety of ways and in different locations to ensure it yields advantages for them.
2. Global watch market is profitable: Overall the market for watches is profitable worldwide. This is a great opportunity the direction of Apple to present its iWatch in an approach that keeps people curious about the idea.
3. Increasing income levels increasing income levels: The constant rise in income levels across the world is an additional possibility for Apple to move forward with its futuristic products like iWatch.
4. It can be a new category of product that is defining or a new product category: If the product is popular, Apple will always enjoy the advantage of being first to market for the creation of new category of products for future generations.
5. The needs of the future generation: The next generation is looking for new and inventive products. The kind of offer iWatch will create could be a good fit. All you need is to hit the right places in marketplace at just the right time with the most appropriate product.
Apple Watch Threats – Apple Watch SWOT Analysis
1. Innovation and competition: This technological business is competitive just like any other. It can be from any angle such as phone makers, watchmakers but none of them. This makes it even more vital to stay at the leading edge of your product constantly.
2. Customer acceptance: Such futuristic products usually require time to be popular with customers. This can make a company feel demoralized if they are stubborn about some thing. In such instances it is essential to imagine a product’s future over the long term.
3. Differentiation is key: A competitive market like that always requires differentiation. Re-engineering and imitating are quite commonplace these days Therefore, iWatch needs to make sure it has the differentiation factor that is associated with it every time.
This is the SWOT report that Apple Watch has done. Please let us know if you have additional suggestions to add.
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