One chart shows Apple dominating the smartwatch market

Rumours are swirling that Apple plans to unveil a new Apple Watch alongside the iPhone 8 next week, and competitors in the wearable market tried to get a step ahead this week by unveiling new devices at the IFA consumer electronics show in Berlin.

Fitbit, Garmin, and Samsung all showed off new gadgets, but as we can see in this chart from Statista, the companies still have a lot of catching up to do. According to market intelligence firm IDC, Apple shipped 3.4 million Apple Watches in the second quarter of 2017, making it the worlds leading smartwatch brand.

When smartwatches were first released a few years ago, they were heralded as the next big thing in tech. The devices never quite lived up to expectations however, and companies like Motorola and Jawbone have ditched the market entirely.

Get the latest Fitbit stock price here.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.