Are you planning on buying an Apple Watch soon after it is released early next year? You’re not alone, according to a new survey from UBS (via AppleInsider).
In a poll of 4,000 consumers, the investment firm found that 10 percent are “very likely” to buy one of Apple’s new wearable devices during the first year of release. This could translate into sales of 24 million units during the first nine months. If this happens, Apple’s profits would rise by $3.4 billion.
UBS projects that Apple Watch sales could rise to 67.6 million by fiscal year 2018.
According to analyst Steven Milunovich:
Given that two-thirds of Apple’s profit is generated by the iPhone, the company has to be concerned about the longer-term threat of replacement technology, whether it be a leap in handset technology or loss of key functions to wearables. With a sophisticated user interface and third-party apps coming on, Apple may be readying for the time when the Apple Watch encroaches on the smartphone market.
In November, Morgan Stanley projected that one in 10 current iPhone owners would be buying an Apple Watch. This would translate into first year sales of around 30 million units for Apple’s upcoming wearable device.
The Apple Watch is likely to arrive in stores in February.
See also: Apple Watch microsite touts Timekeeping, New Ways to Connect and Health & Fitness, If you want an Omega or Panerai watch, don’t buy an Apple Watch, and Apple releases WatchKit to developers.