Apple Watch is celebrating the one year anniversary of the wrist wearable's launch on April 24, Sunday. It followed the original iPhone's introduction in 2007 and the iPad's debut in 2010, while some Wall Street analysts believe the device sold 12 million units in its first year on the market. That figure makes up  61 percent of worldwide smart watch sales and is twice as high as the 6 million iPhone handsets sold during its first year on the retail market.

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Apple celebrated Watch's first birthday a few days before the California company announces its quarterly earnings, according to The Wall Street Journal. The device is the first major product since CEO Tim Cook took the helm following the passing away of co-founder Steve Jobs.  

If Apple sold 12 million Watch units during the first year of availability that would be $6 billion of revenue for the tech giant. This figure is based on average price of $500 per unit and is about three times the yearly revenue of fitness tracker Fitbit.       

The first version of Apple's wearable has not received good reviews from everyone. Some people have argued that its works too slowly while others claim it is not yet a must-have device.

In fact, some industry experts have argued that Apple Watch has not been a success. Fred Wilson is the co-founder of venture-capital firm Union Square Ventures and owns Fitbit stock shares. He claimed in December 2015 that the Apple timepiece was a "flop" and that people would never want to wear a mini computer on their wrist.   

However, a Wristly survey conducted last week among 1,150 Apple Watch owners showed that the vast majority of the wearable's users were happy customers. A total of 93 percent of the users were either satisfied or very satisfied with their Apple smartwatch, according to Phone Arena.

Cook's company is reportedly developing Apple Watch 2, which will include a thinner profile and faster processor. Watch owners hope the second-gen model will receive phone calls directly from the wrist wearable and end the need to link the digital timepiece to an iPhone. It is set to launch later this year.

Apple also recently announced that all apps developed for its watch OS 2 must run as a native app starting on June 1. It would make Apple Watch run faster and smoother because it would not be streamed from iPhones.  

Here are Apple Watch 2 rumors: