Apple has retained its position as the best-selling smartwatch in its 2018 second quarter with approximately 4.7 million Apple watches sold, capturing 17% of the global market, according to research from the International Data Corporation (IDC).
The research firm said that the development of Apple's LTE series 3 was the main driver of the growth.
Additionally, IDC noted that the overall growth of the smartwatch industry is due to the continuous updates and added features. According to IDC, the global wearables market reached 27.9 million in shipment volume, a 5.5% increase since last year's results.
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"The market experienced similar gains in dollar value, growing 8.3% year-over-year to $4.8 billion in 2018 fueled by the continued popularity of smartwatches with their high price tags," IDC reported.
Tim Cook, Apple's CEO, noted the increasing role of smartwatches and other wearables following the announcement of Apple's 3Q18 results.
"Our Q3 results were driven by continued strong sales of iPhone, services and wearables, and we are very excited about the products and services in our pipeline," Cook remarked.