After slowing in 2022, shipments of the global smartwatch market grew 9% quarter-on-quarter, led by Apple's wearables, according to Counterpoint Research.
Apple had its best quarter of the year, with shipments up 7% year-over-year. This is a significant increase as Series 9 was released a week later than Series 8 last year. However, according to Counterpoint, the release that "contributed the most to [Apple's] growth" was the 2022 Apple Watch SE.
Samsung, Apple's main rival in the smartwatch space, saw sales fall 19% in the quarter from a year earlier, according to Counterpoint. But that was due to buying an older version of the Galaxy Watch. Over the summer, purchase rates for the Galaxy Watch 6 Classic "increased compared to last year's 5 Pro, helping boost the brand's [average selling price]."
The biggest winner this quarter was a company that isn't doing much in the US right now: Huawei, which was up 56% year-over-year. Most of this growth came from the domestic market of China, where the company recently launched a Huawei 5G smartphone along with a smartwatch. The company's HLOS smartwatches -- smartwatches that run an operating system and can run apps -- saw a 122% increase in shipments in the quarter, and its Watch 4 and 4 Pro series were launched in Q2 and the Watch GT 4 in Q3 per quarter. Also saw strong sales.
Counterpoint Research's Woojin So said: “With the global economic slowdown, markets for consumer devices such as smartphones are flat compared to a year ago. In contrast, the smartwatch market has grown for two consecutive quarters in both the premium and budget segments." .Analyst
India, the global leader in mainstream smartwatches—devices that cannot install third-party apps—accounts for 35% of global smartwatch shipments. Fire-Bolt is the leader there, although the top three Indian brands, Fire-Bolt, Noise and Boat, are currently growing at a slower rate than before, which means the market is stabilizing in the region.
Post a Comment