Apple didn’t reveal how many Apple Watches it sold during its Q2 earnings report, but the company is looking to increase supply to meet demand by the end of the quarter.
Apple is “aiming for watch supply-demand rebalance by quarter’s end,” according to Bloomberg, highlighting that Apple is ramping up supply to meet the high demand for Apple Watch.
“The customer response for the watch has been great,” Apple CFO Luca Maestri told Bloomberg in an interview Monday. “We are working very, very hard to catch up from a supply standpoint — keep in mind this is not only a new product but it’s an entirely new category.”
Apple CEO Tim Cook also mentioned the Apple Watch in passing in the company’s Q2 earnings release, saying that “We’re off to an exciting start to the June quarter with the launch of the Apple Watch.”
Previous reports have suggested Apple is aiming to sell as many as 20 million Apple Watch units in its first year. If Apple manages to pull that off, it would make it the biggest product launch in the history of the company. Bloomberg is reporting that analysts are estimating that “Apple Watch sales may reach almost 14 million units in the fiscal year that ends in September.”
Instead of having people line up at Apple Stores on launch day, Apple changed things up with the Apple Watch debut due to its constrained supply, allowing people to only pre-order the device online.
During its first pre-order weekend, Apple was estimated to sell as many as 1 million Apple Watches, and the device was “largely sold out” in the first ten minutes, according to Apple analyst Gene Munster at Piper Jaffray, leading to many customers seeing shipping delays.
The Apple Watch launched officially on Friday, and while some customers are reporting that Apple is moving up delayed orders ahead of schedule, many customers are still waiting for their Apple Watches to ship out.