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Apple Watch shipments to fall by 25 percent: Report

Apple Watch sign
Chris McGrath | Getty Images

Shipments of the Apple Watch could fall by more than 25 percent this year, according to one analysis.

9to5Mac reported that Taiwanese financial services group KGI Securities forecast that 2016 shipments of the device would fall below 7.5 million units. The firm estimates that the tech giant sold 10.6 million units in 2015.

9to5Mac highlighted that the drop is even more dramatic as the firm is comparing a full year of sales in 2016 with just 8 months of sales in 2015.

Some analysts were surprised when Apple announced a price cut for the Apple Watch at its March event. However other analysts said that some retailers had already discounted the device.

"Thus, while the small price cut may be a slight positive for units over the next few quarters, we believe that many buyers were already able to receive discounted prices," Piper Jaffray analyst Gene Munster told CNBC last month.

However, the KGI Securities note added that Apple could see increased demand for the device with an updated design next year.

Read the full report on 9to5Mac.