It's said that a rising tide raises all ships, and that old saying is perfectly apt in the wearables market. Pebble CEO Eric Migicovsky told CNBC that the Apple Watch appears to be bringing increased consumer awareness to the entire wearables space, with his company now selling twice the number of smartwatches than it was at this time last year.
Earlier this week, Fitbit CEO James Park made similar comments, saying that the Apple Watch had "no material impact" on the company's sales of fitness trackers. Fitbit's revenues rose 168 percent year over year to $409.3 million, and Park told investors that his company and Apple serve "two very different segments of the market."
Many people believed that Apple's entry into the wearables market with the Apple Watch would cause harm to other companies, but that definitely doesn't appear to be the case. Although Apple has made an estimated $1.7 billion on the sale of the Watch since April, the other companies are doing well. There's one possible answer: Apple Watches work only with the iPhone, where Fitbit and Pebble devices work with Android (both) and Windows phones (Fitbit only) as well.