Apple ‘is now the second largest watchmaker in the world’ claims analyst

APPLE is now the second largest watchmaker in the world behind Swiss firm Swatch, it has been claimed.

An ex-Apple analyst reckons the tech giant is making £3.6 billion a year thanks to its high tech tickers.

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That's based on Apple chief Tim Cook's claim that its wearables business - which include watches, AirPods and Beats headphones - would be among the biggest 500 companies in the US if it was a standalone firm.

Analysts estimated the company was raking in around £4.5 billion a year from its wearables.

Gene Munster, a former Apple analyst turned tech investor, told the  most of those revenues came from the Apple Watch.

That places it behind Swatch - owners of the Omega brand - which recorded sales of £5.9 billion last year, the MailOnline added.

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The claims may surprise Apple fans as the smartwatch was met with mixed reviews following its launch in 2015.

But the firm's finance chief Luca Maestri told the Financial Times that the second generation of the watches had been flying off the shelves with sales nearly doubling year-on-year.

"The watch did incredibly well," he said.

Apple did suffer an unexpected drop in iPhone sales in the last quarter, which the company blamed on rumours over delays to the iPhone 8.

Can't wait for the new gadget to drop? Here's all the gossip about the hotly anticipated smartphone.

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