Bloomberg

(Bloomberg) -- While the second quarter saw a substantial drop, Apple Inc. still holds the market lead in smartwatches. Gadget enthusiasts will be watching Wednesday’s keynote event with great interest as the company is expected to unveil both a new watch and iPhone 7, as well as improvements to the iOS 10 operating system. The refresh could boost sales to existing users who’ve been holding out for an upgrade and generate a following of first-time buyers. Apple shipped 1.6 million watches in the second quarter, down from 3.6 million in the year-ago period.

To contact the reporter on this story: Sophie Caronello in New York at scaronello@bloomberg.net. To contact the editors responsible for this story: Cesca Antonelli at fantonelli@bloomberg.net, Tom Giles, Alex Webb

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