Apple’s latest Watch is a wearable designed to work on its own, but at least in some cases, it doesn’t.
The watchmaker saw sales fall for the quarter and the year, cementing plans for operational consolidation, including layoffs, and bigger investments in digital.
The company saw global net sales fall precipitously and its operating income shrink by more than half, but is hopeful that wearables will offer stability.
The maker of increasingly diverse fitness trackers reported on Monday that growth is down and it would be laying off 110 employees.
Consumers are on the fence about fitness trackers, often abandoning wearables due to frustrating operating systems, inaccuracy and just plain boredom.
The IDC reports that basic wearables from Fitbit are winning, while advanced fitness trackers and smartwatches are struggling.
Apple Watch maintained its smartwatch lead, but it is not immune to declines in the increasingly diverse global market.