The smartwatch market grew 13 percent in the quarter compared to the same period a year earlier. This is evidenced by research by Counterpoint. Apple remains the largest supplier of smartwatches and Samsung ranks second.
According to Counterpoint Smartwatch shipments increased in almost all regions; Only in Europe did the number of births remain roughly the same. Apple and Samsung had growth in Europe, but other major manufacturers underperformed in the region, according to Counterpoint. The research firm said the war in Ukraine had little impact on this, but that could change in the next quarter. “The prolongation of the conflict and the resulting logistical constraints are beginning to affect the European region. The consequences of the war will become more severe in the second quarter.”
Among the many manufacturers, Apple introduced 14 percent more smartwatches in the first quarter of this year than the year before. This gives the tech giant 36.1 percent of the smartwatch market. According to the research firm, those higher sales last quarter are partly because the Apple Watch Series 7 was released a month later than planned. The loyalty of iPhone users to the brand also contributed to the growth.
Samsung also had a strong quarter, delivering 46 percent more wearables than the previous year. This is partly due to the release of the Galaxy Watch4 series. This gave the South Korean manufacturer a market share of 10.1 percent, placing the manufacturer in second place. Xiaomi introduced 69 percent more smartwatches compared to last year. Much of that consists of models that cost less than $100, Counterpoint wrote. Xiaomi now has a 5 percent market share, thus it ranks fourth for the first time.
Huawei is currently in third place, but it continues to lose market share. The number of deliveries has remained roughly the same as last year, and the company hasn’t grown with the smartwatch market. Due to trade restrictions, Huawei is shipping fewer smartwatches outside of China, which explains its low market share. The company now has a market share of 7.2 percent, compared to 8.2 percent a year ago. Garmin ranked fifth in deliveries last quarter, but ranked third in revenue, according to Counterpoint, as the company sells more expensive smartwatches. This plant did particularly well in the $500-plus segment. Moreover, Fitbit’s market share has decreased, because this company has not released any new models recently.
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