Samsung Electronics’ newly-launched smart wristband ‘Gear Fit’ is sweeping across the world as Samsung sold out initial Gear Fit supply. South Korea’s electronics giant began efforts for the additional production with unexpectedly rising demand
Source: Yonhap News
Samsung produced 200,000 to 250,000 units of the Gear Fit for the global market and sold out of initial supply in just 10 days. 25,000 units were available in the Korean market, all of which were sold out as well, according to sources in the industry Monday.
Samsung’s initial supply of 200,000 to 250,000 units is not so low considering the global wearable market was estimated at $330 million (350 billion won) as of 2013. The market competition is intensifying among many players including Nike’s ‘Fuel Band’ and Jawbone’s ‘Up’
Even so, the Gear Fit’s initial supply was sold out and this mirrors the market is growing at a rapid clip this year.
The Gear Fit comes with bendable display and battery, making it appealing to consumers. However, the component supplier is limited to Samsung Display and Samsung SDI, making it difficult to meet the supply. Thereupon, soaring growth of the Gear Fit will likely reshape the structure of flexible component suppliers.
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