Apple Watch Sales Plunge 55% In The Second Quarter

The global smart watch market fell 32% year-over-year in the second quarter, led by a 55% decrease in shipments for the Apple Watch, according to a new report from IDC analyzing shipments. Vendors of smart watches shipped 3.5 million units last quarter, versus 5.1 million in the year-earlier period. Apple Inc. held onto its leadership position by shipping 1.6 million watches, but it was the only vendor among the top 5 worldwide to experience an annual decline. Apple's share of the market fell to 47%, compared with 72% last year, while Samsung Electronics' share rose to 16% from 7% last year. Shares of Apple rose 0.2% to $100.15 in premarket trade. They've declined by roughly 5.5% in the past three months and by 23.5% in the past year. The Dow Jones Industrial Average rose 3.5% in the past three months and 3.8% in the year.