Soon after its launch in April this year, Apple witnessed brisk sales of its much anticipated first wearable device - the Apple Watch. However, the sales of the smartwatch have declined by 90 percent since then, says a report published by market research firm Slice Intelligence.

According to IB Times, the Apple Watch got off to a flying start when it went on sale for the first time in April, but things have not been so good since then. The day-to-day sales of Apple's ambitious new product have dropped drastically by 90 percent since its release.

Quoting the Slice Intelligence report, the website states that currently Apple is selling less than 20,000 Apple Watch units daily, and on slow days, the number drops further to below 10,000 units. According to the market research firm, on the other hand, it is estimated that Apple has sold about 1.5 million Apple Watches in the first week - an average of about 200,000 units per day.

Slice Intelligence report further states that currently most of the sales are coming from the Apple Watch Sport, the entry level device that comes with a starting price of $350. On the other hand, the Apple Watch and Apple Watch Edition models, which start at $550 and $10,000, respectively, have contributed to just one-third of overall sales of Apple Watch.

According to MarketWatch, the market research firm stated that it collected its data from electronic receipts sent by Apple to consumers who have purchased the Apple Watch.

Slice Intelligence, however, did not offer any reasons for the drastically declining sales of the Apple Watch. Meanwhile, Apple has opened a number of brick-and-mortar retail outlets in different countries to boost the sales of the Apple Watch, but even this initiative seems to have failed to yield the desired results.