The smartwatch industry has recorded a fifth consecutive quarter of decline, with a 2% year-on-year decrease in global shipments. Meanwhile, China's market is flourishing, evidenced by a 37% year-on-year growth in shipments. The decline in the overall market can be attributed to reduced sales in Apple smartwatches and a slowdown in India's smartwatch market. Apple still commands 20% of the global market share despite a 9% drop in shipments. In contrast, Huawei and Xiaomi exhibited significant growth, both increasing by 53%. Changes in consumer preferences indicate a tendency for more expensive devices.
The smartwatch industry is in decline, facing a fifth consecutive quarter of a 2% year-on-year drop in shipments globally.
China's smartwatch market is thriving, showing an impressive 37% growth in shipments year-on-year, contrasting with the global trend.
Apple remains the largest player with a 20% market share despite a 9% decline in shipments, while Huawei and Xiaomi both surged by 53%.
Consumer preferences are shifting towards more expensive, feature-rich devices, with the $100-$200 segment growing 21% while the sub-$100 category declined 17%.
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