Samsung predicts wearable sales will rocket this Christmas
New research into the wearables market, commissioned by Samsung, was released today. It predicts festive season sales of over 1 million wearables in the UK alone, and revenues to be up 182% on Christmas 2013.
The South Korean electronics giant reported that the festive boom for wearable tech will see the UK consumers spending £104.7 million on devices, with the wearable market as a whole topping £313 million in 2014, placing the UK just after Germany as the second highest in Europe.
“The wearables market has exploded over the past 12 to 18 months with some incredibly exciting and innovative products entering the market,” Andy Griffiths, president of Samsung UK & Ireland said in an email to Tech Assimilate.
Speaking about year-on-year sales, Griffiths added: “As the benefits wearable technology can offer become better understood, it is natural that the sales within this sector will grow and we are delighted to see predictions of 121% growth and sales reaching €395 million in the UK alone by the end of this year.”
The report states that fitness trackers will lead the way with 475,000 units expected to be shifted over the holiday season, accounting for nearly £29 million of the £104.7 million, followed by health care products (317,000 units) and then smartwatches (156,000 units), accounting for £25.04 million and £22.01 million respectively. As expected, Samsung will be most interested about the last of these genres, since it has released multiple wearable devices in the last year alone, which includes its most recent smartwatch offering, the Galaxy Gear S, sporting a curved screen and 3G connectivity.
The figures were taken from the report ‘The Retail Prospects for Wearable Technology in 2014 in the UK, Germany, Spain and The Netherlands’, a research conducted by the Centre for Retail Research, Nottingham in September 2014. Whilst Samsung remains optimistic about the big appetite consumers have for wearables, claiming that 2014 is “set to be the year that the wearables sector begins making a significant economic impact”, many critics warn that the market will not take off unless issues including data privacy, battery life and appearance are addressed.