Samsung announces 800K Galaxy Gear smartwatches shipped since launch [u]

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  • Reply 41 of 121
    We had a samsung promotional event here in Uruguay (Latin America) a couple weeks ago.
    They were selling the note 3 for 1300 dollars and the watch for 700 dollars. That's 2000 dollars for a "phone" and a watch, in a country were minimum pay is 400 dollars.

    I'll try to find some of the pictures I took of the event.
  • Reply 42 of 121
    [IMG]http://forums.appleinsider.com/content/type/61/id/35162/width/200/height/400[/IMG]

    This is how they promote their products on the markets where Apple has almost no presence.
  • Reply 43 of 121
    "The South Korean firm said Gear sales have been better than its own expectations and it would expand sales promotions for the wearable device for the crucial year-end holiday sales."

    I'm sorry, but if you are beating your own expectations you never expand sales promotions (discounting).....I call BS!
  • Reply 44 of 121
    rob55rob55 Posts: 1,255member
    Quote:

    Originally Posted by shompa View Post



    At least here in Sweden: When you buy a high end Samsung phone you get the Gear for free.

     

     

    Hey, is that like an oxymoron or something?

  • Reply 45 of 121
    jmc54jmc54 Posts: 204member
    Quote:

    Originally Posted by Esoom View Post

     

    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.


    http://www.ebay.com/sch/i.html?_trksid=p2050601.m570.l1311.R3.TR11.TRC1.A0&_nkw=galaxy+gear+watch&_sacat=0&_from=R40

    Too late!

  • Reply 46 of 121
    Wow, that's a lot of ignorant people. Everyone who reviewed the Gear said it was junk (in the politest way possible) yet people still bought them. Who's the real sheep?

    Must be a lot of Dick Tracy wannabees out there. Or maybe nerds looking for something to match their Batman Utility Belt.
  • Reply 47 of 121
    kpomkpom Posts: 618member
    Maybe 800,000 were sold and 750,000 were returned. :)
  • Reply 48 of 121
    AppleInsider will print anything Samsung related for the clicks.
  • Reply 49 of 121
    juiljuil Posts: 75member

    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).

  • Reply 50 of 121
    jungmarkjungmark Posts: 6,719member
    rogifan wrote: »
    Why would they ship something they don't think they'll sell?

    Surface 1, Playbook. It does happen.

    Honestly, we can't trust Sammy's numbers. Put the data in a financial statement, Sammy.
  • Reply 51 of 121
    MarvinMarvin Posts: 14,232moderator
    philboogie wrote: »
    800k instead of 50k. Maybe they were using Excel?

    :lol: 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. It's available in over 140 countries. This would be around 1.2m units per quarter or 4.8m units per year so could well be exceeding sales of Casio G-shock watches.

    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:

    http://www.cultofandroid.com/43988/samsung-has-shipped-5-million-galaxy-note-3-units-in-just-one-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.
  • Reply 52 of 121

    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! ;)

  • Reply 53 of 121
    And we are to believe a company that lied about its stealing until convicted of it? Samsung has damaged its credibility.
  • Reply 54 of 121
    jakebjakeb Posts: 557member

    Almost a million *sold*? I have a hard time believing this. 

  • Reply 55 of 121
    Marvin wrote: »
    :lol: They should have hit return to get the correct total.

    LOL ...but I hadn't put in any number into the Formula Bar...
    It makes a lot more sense for the 50k sales to be from Korea than worldwide.

    And that is precisely it, [@]RichL[/@] here pointed it out as well.
    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:

    http://www.cultofandroid.com/43988/samsung-has-shipped-5-million-galaxy-note-3-units-in-just-one-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.

    That link says shipped, not sold. And explaining the difference.

    And this is still true, right? 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')
    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.

    I don't think they would sell many if they bundle the whatever hundreds of dollar phone plus a $300 watch.
    Let's see some standalone watch figures Samsung and that'll determine the actual demand for the watch.

    We can hope, but I don't think we can watch out for this breakdown.
  • Reply 56 of 121
    gatorguygatorguy Posts: 21,302member
    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')

    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)
  • Reply 57 of 121
    philboogie wrote: »
    800k instead of 50k. Maybe they were using Excel?

    Only Numbers can make that mistake. Maybe DED got an internship making charts and graphs for Samsung
  • Reply 58 of 121

    "?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'.

  • Reply 59 of 121
    jungmarkjungmark Posts: 6,719member
    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)

    Actually Sammy doesn't report any hard unit numbers at all.
  • Reply 60 of 121
    gatorguy wrote: »
    ^ post

    Thanks. Now that you post this, I remember it was posted earlier as well (perhaps by you). So, in short, a company gets to call it as sold because they receive money for shipping said product, be it the end customer or a reseller. And if that reseller can't get revenue for the product that is their issue. They might as well use it themselves or whatever.
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