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According to a research note from KGI Securities, demand for the Apple Watch has been slower than expected. As a result, the securities firm has lowered its annual shipment estimates for Cupertino’s wearable device by half.
Previously, Apple was expected to move between 20 and 30 million smartwatches. The new estimates from the typically accurate KGI Securities suggest that the company will ship less than 15 million units.
Roughly a month ago, The Wall Street Journal reported that faulty Taptic Engines slowed down the Apple Watch shipments. Production output of the component has reportedly not picked up just yet.
KGI’s note further claims that 80% of all Apple Watch orders are for the larger 42mm model. Apple is yet to reveal any sales numbers for the smartwatch.
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