The Apple Watch, which goes on sale on Friday, could be Apple’s (AAPL) most profitable item to date, if a market researcher’s analysis is correct.
Carl Howe from Thing Big Analytics wrote in a blog post that the tech giant has sold over 3 million units already, including an estimated 1.8 million Sport models and 40,000 Edition models, Business Insider reported. He also doesn’t believe the delays in shipping signified poor planning on Apple’s part, but rather part of the strategy to make the new product even more desirable to consumers.
Howe wrote about the Apple Watch’s profitability and broke down the figures based on models sold:
In his blog post, he added:
Howe believes that the slow Apple Watch rollout helped the company “figure out which of the 38 or so different models people really want.”
In January, Apple reported earnings of $3.06 per share on revenue of $74.6 billion. The company will report earnings for the next quarter on April 27.
For more on Apple, read Fortune’s recent feature story Apple’s Tim Cook leads different.