Wearables Sales Slowing Down?
Apple’s “Wearables” category also includes Home and Accessories, which encompasses everything from the Apple TV and HomePod mini to cases, MagSafe chargers, and power adapters.
Still, there’s no doubt that the driving products in that category are the actual wearables: the Apple Watch and the various flavours of AirPods.
While the category saw a seemingly impressive 13.3 percent growth over last quarter that pales in comparison to the previous holiday quarter numbers, which were 29.6 percent in Q1 2021, and a staggering 37% in Q1 2020.
This suggests that the Apple Watch Series 7, AirPods 3, and more colourful HomePod mini smart speakers just didn’t quite match up to the demand for the AirPods Pro and prior Apple Watch models.
The release of the Apple Watch SE alongside the Series 6 in 2020 may have also accounted for more wearable sales, and of course, that’s also the year the HomePod mini made its debut.
Even so, the wearables category has doubled in revenue since Q1 2019, when it only accounted for $7.3 billion of Apple’s $84.3 billion in total revenue.