Pebble, Apple Watch's biggest competitor, doubled its smartwatch sales

After Apple released its smartwatch, the awareness it has raised on the device helped competitor Pebble double its sales.

Apple Insider reported that Apple Watch increased the awareness on wearable devices after its release. Pebble CEO Eric Migicovsky said their sales are not affected by Apple Watch's release. He said that their company is now selling twice as much as it was at the same period last year.

Migicovsky told CNBC that Apple has brought so much attention to the wearables space. He said, "We've actually seen no material impact from Apple entering the space on our sales. In fact we're selling two (times) the amount this year than we were last year."

According to Business Insider, Apple is catered to the upper class as the Rolex or the Tag Heuer of the smartwatch industry, while Pebble is focused on catering for the mass market. This means there are no overlaps in the market.

Pebble Smartwatch went on sale in 2012, and it established the smartwatch space in the market. This product came from a Kickstarter campaign worth $10 million. Meanwhile, the tech company just launched its Time, which puts color screens on the brand that has been limited to monochrome.

Migicovsky said there is no material impact from the release of the Apple Watch. This is the same sentiment that Fitbit, another wearable tech company, has expressed. Fitbit CEO James Park said earlier this week that they saw no material impact from Apple's sale of its smartwatch. This is especially true because, according to Park, the two companies serve very different segments. In fact, Fitbit's third quarter earnings report shows that its revenue increased 168 percent year-on-year.

Pebble expanded its lineup this year with a fresh round of model beginning at $250 which is $100 less expensive than the base Apple Watch Sport. The company also launched the Pebble Time at $199 and a steel version of the square-faced model at $299 respectively.