I am having the same issue, almost double the true amount. It is a bit strange to me that a watch, designed to monitor and measure lifestyle can be soo far off. Is this not the purpose of the watch?
Also, it is very accurate in repeating the error, even when I purposely minimise hand movement.
Is there any intention to correct this, as my phone and another similar device seem to get it fairly accurate?
Can this be a software adjustment?