Report Shows Increase in Smartwatch Shipments After Two Quarters of Decrease
Global shipments of smartwatches grew 11 percent (year-on-year) in the second quarter (Q2) of this year after falling in the past two quarters, a report showed on Tuesday.
According to Counterpoint Research, India’s shipments grew by 70 percent year-on-year, a primary driver of the recovery in global markets.
In terms of regional broadcast shares, the Indian market was 34 percent, up 12 percentage points from a year ago, the report said.
The Chinese market also grew slightly. In addition, the change in the competitive environment was evident when Huawei rose to second place
in terms of global market share.
“Huawei achieved impressive growth in the second quarter of 2023, ranking second in quarterly shipments for the first time in two years. Huawei aggressively
launched new flagship products such as the Watch 4 series in the second quarter and achieved its highest quarterly shipments since 2020,” said the study.
analyst Woojin Son.
Huawei made great strides, increasing its domestic market share to 39 percent after a 58 percent rise in shipments.
The Indian brands Noise and Fire-Boltt emerged as significant competitors with 86 percent and Fire-Boltt 70 percent growth from the previous year.
China’s market share decreased due to the rapid expansion of the Indian market. However, Chinese shipments increased by 5 percent from the second quarter of 2022.
Samsung’s decline compared to a year ago was 19 percent. According to the report, Apple fell 10 percent year-over-year.
