Hey, is that like an oxymoron or something?
A 20% return rate means there's 160,000 that were returned, or, knowing Samsung, more. These things are going to show up on ebay soon, for $100.
I thought the original report from South-Korea was related to their domestic sales (so South-Korean sales). If that’s the case, than both the former report’s mention of 50 k sales AND Samsung’s PR claim of 800k can be true.
Samsung = We filled our worldwide channel with 800k units (heck we have 3 colours of them). And since we are so happy with the momentum, we will keep our promos for the upcoming holidays (ho, I see what you did there, trying to spin it positively - but since when is a hot-selling device discounted/promo-ed for 4 months?)
South-Korean report = Samsung actually sold 50k units in South-Korean in a couple of months (if I’m not mistaken).
rogifan wrote: »
Why would they ship something they don't think they'll sell?
philboogie wrote: »
800k instead of 50k. Maybe they were using Excel?
Hmmm ... if true, I guess there are 800,000 idiots are among us!
Then again, what was the last time Samsung said / did something honest and truthful, eh?!!
I call this BS. PURE BS! This is f'ng Samsung we talking!
Almost a million *sold*? I have a hard time believing this.
Marvin wrote: »
They should have hit return to get the correct total.
It makes a lot more sense for the 50k sales to be from Korea than worldwide.
However, bundling it with the Galaxy Note 3 when it's bought on a 2 year contract makes it really hard to determine demand. They sold 5 million Note 3s in a month:
Most of the watch shipments could have been bundled with Note 3s, which means they've sold as many watches as they've sold Galaxy Note 3 boxes in the watch+phone bundle.
New Samsung record: 5 million Samsung Galaxy Note 3 boxes sold. The boxes come with the device but they are sold along with it. Same with the carrier bags, record carrier bag sales by Samsung.
Let's see some standalone watch figures Samsung and that'll determine the actual demand for the watch.
philboogie wrote: »
When Apple says Sold they mean Sold. When anyone else says Shipped they could mean anything and when they say Sold they could mean anything. Correct? (as far as we know or are able to 'verify')
"?Samsung announces 800K Galaxy Gear smartwatches sold since launch" -- for a company that's known to lie blatantly and use unfair means to try to gain competitive advantage, this is just unbelievable. May be they meant 800K stupidwatches 'stuffed', as opposed to 'sold'.
gatorguy wrote: »
Incorrect. As far as I know Samsung reports sales in accordance with International Accounting Principles (IAS) rather than GAAP like here in the US and there are some areas of difference between IAC and GAAP. Even Canadian GAAP has some differences compared to the US GAAP. Accordingly sales are recognized under IAS when:
-Revenue arising from the sale of goods should be recognised when all of the following criteria have been satisfied: [IAS 18.14]
-the seller has transferred to the buyer the significant risks and rewards of ownership
-the seller retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold
-the amount of revenue can be measured reliably
-it is probable that the economic benefits associated with the transaction will flow to the seller, and
-the costs incurred or to be incurred in respect of the transaction can be measured reliably
So with regard to recording a sale it's nearly identical to how Apple recognizes one. Shipped vs.sold is more of a tired meme than anything else for the most part IMO. Now if what you really wanted to discuss was sell-in and sell-thru that's a different issue and one where Apple is more transparent than it's competition for the most part. But sell-thru is not what Apple reports when they record a sale. (Yeah I know they sell some devices directly to consumers themselves but no where near the majority of them)
gatorguy wrote: »