How Apple Is Creating A Whole New Industry Through Its Apple Watch

Apple Inc. AAPL boasted the success of its iOS ecosystem recently be declaring the numbers behind its App Store. With the Apple Watch to debut shortly, developers have already started working on apps suited for the watch.

Christopher Mims, Wall Street Journal technology columnist, was on CNBC Tuesday to discuss a new app development industry that is taking shape centered around the Apple Watch.

"Well one thing that I got a look at that was particularly compelling was a company called Inmarket," Mims said. "[It's] working on apps for the watch that are based on things that they have already done for the iPhone and they have in the lab an app that allows you to navigate through a grocery store and avoid the problem that we have all had of not being able to find things on a particular aisle."

Will The Apple Watch Be Big Enough At Launch To Sustain Its Own App Ecosystem?

"Nobody knows how much it's going to sell at the debut," Mims replied. "I think it will be huge because of the Apple brand halo. Morgan Stanley is projecting that they could sell up to 30 million units in the first year; for reference, the iPad only sold 14 million units in its first year. So, that would be big for Apple. It would move the stock significantly."

He continued, "I also think that a lot of companies are really investing in having their apps ready at launch because if they are early, just as they saw with the iPhone…they could sell tons and tons of their apps and become institutions. So, wearables haven’t been that great to date, but I think in this case Apple has enough developers who are going to be ready at launch that there could be significant amount of interest generated right then."