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Update: Samsung wasted no time in refuting this report with a statement provided by an exec that claims the company has “sold” more than 800,000 units. Hit this link for the full update.

A new report courtesy of Business Korea indicates that Samsung’s Galaxy Gear has fallen well below initial sales expectations. According to the publication, Samsung’s first go at the smartwatch market has sold less than 50,000 units and is moving only 800-900 units per day.

That’s an incredibly low number even for the likes of Samsung which has relentlessly pushed the Galaxy Gear in combination with its flagship Galaxy Note 3. Still, it’s safe to say that Samsung produced the Gear as more of a test than a revolution, as many have said they rushed to market to beat Apple’s still-vaporware smartwatch. Whether or not we will see a second-generation Galaxy Gear smartwatch is still unknown, though rumors have indicated Samsung might quickly follow-up with a new release that shores up a lot of the complaints about the first-gen.

Any Galaxy Gear smartwatch owners want to chime in on this “flop” talk?

via BGR