The smartwatch market is booming once more due to Apple and Huawei

The smartwatch market is booming once more due to Apple and Huawei

After a sluggish 2022, the worldwide smartwatch market noticed a 9% year-over-year improve in shipments within the third quarter, led by Apple’s wearables, in keeping with Counterpoint Analysis.

Apple had its finest efficiency within the third quarter of this yr, with shipments up 7% in comparison with final yr. The rise is notable as a result of the Collection 9 was launched a couple of week later within the quarter in comparison with the Collection 8 final yr. Nevertheless, in keeping with Counterpoint, the model that “contributed probably the most to (Apple’s) progress” was the budget-friendly Apple Watch SE from 2022.

Samsung Galaxy Watch 6 Classic

Samsung Galaxy Watch 6 Traditional (Credit score: Angela Moscaritolo/PCMag)

Apple’s primary competitor within the smartwatch area, Samsung, noticed a 19% year-over-year decline in the course of the third quarter, Counterpoint says. However that was as a result of fewer individuals had been shopping for older variations of the Galaxy Watch. Galaxy Watch 6 Traditional purchases elevated over the summer season in comparison with the 5 Professional final yr, which contributed to the upper (common promoting worth) for the model.

The most important winner this quarter is an organization that does not do a lot enterprise within the US as of late: Huawei, which is up 56% yr over yr. Most of this progress has occurred within the Chinese language home market, the place the corporate just lately launched Huawei 5G smartphones bundled with smartwatches. The corporate’s HLOS smartwatches — OS-powered smartwatches able to working apps — noticed a 122% improve in shipments within the third quarter, whereas the Watch 4 and 4 Professional sequence, which had been launched within the second quarter, and the Watch GT 4, which Within the third quarter, it additionally noticed robust gross sales.

“With the worldwide financial slowdown, most shopper {hardware} markets equivalent to smartphones are nonetheless stagnant in comparison with final yr. In distinction, the smartwatch market has registered year-on-year progress for 2 consecutive quarters in each the premium and price range segments,” says Counterpoint Analysis Analyst Woojin Son. .

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The Indian market, a world chief in fundamental smartwatches — gadgets that can’t set up third-party apps — accounts for 35% of whole international smartwatch shipments. Hearth-Boltt is the chief there, though the three main Indian manufacturers – Hearth-Boltt, Noise and boAt – are at present seeing slower progress than earlier than, displaying a stabilizing market within the area.

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