Apple retained its prime spot buoyed by the late launch of Apple Watch 7 as the worldwide smartwatch shipments recorded a 13 p.c development on year-over-year (YoY) foundation in Q1 2022 regardless of considerations over financial slowdown and inflation, as per a report. Samsung solidified its second place with the recognition of Galaxy Watch 4 collection. Huawei, Xiaomi, and Garmin accomplished the highest 5 listing with Xiaomi performing nicely with its record-highest quarterly shipments registering a 69 p.c YoY development within the quarter.
As per the Global Smartwatch Model Tracker by Counterpoint Research, Apple maintained a stable lead and registered a 14 p.c YoY improve in Q1 2022. Due to delayed launch of Apple Watch 7, some shipments carried over to Q1 2022 serving to the iPhone-maker to retain its prime spot globally with 36.1 p.c market share.
“Although the global smartwatch market saw little growth in 2020 due to the impact of Covid-19, it has continued to perform well since its rebound last year. In particular, Apple accounted for more than a third of the total shipments last year, and it is further increasing its influence with a market share of 36 percent in the first quarter of this year,” said Associate Director Sujeong Lim.
The second place went to Samsung, which registered a 46 percent YoY increase in shipments due to its growth in the APAC region steered by the popularity of Galaxy Watch 4 series. The South Korean giant grabbed 10.1 percent of the global market share. In third place Huawei’s growth remained flat YoY (7.2 percent share) in terms of shipments due to its weak position in the international market.
Another Chinese brand, Xiaomi, registered the maximum (69 percent) YoY growth with its increased penetration in the international markets. The report says that Xiaomi’s sales rode on the sales of low-end segment wearables (under $100, or roughly Rs. 7,800), and grabbed 5 percent market share.
The Counterpoint report also says that Garmin (4.3 percent share) ranked fifth in terms of shipments, but was third in terms of revenues due to its higher ASP. “It occupies the majority portion in the premium segment over $500 (roughly Rs. 38,850),” the report noted. It is followed by Amazfit (4 percent) which rode the success of the GTR 3 and GTS 3 series launched in the fourth quarter of 2021.
Another player is FitBit which saw its sales decrease. It merged with Google, and appears to be undergoing an internal reorganisation. There were no models released last year, and the transition to Wear OS was also delayed. It captured 2.7 percent of market share.
The Counterpoint report says that most major regions grew YoY, but Europe recorded a flat growth.. “We initially expected the war between Russia and Ukraine to have minimal impact on the market in Q1, but the prolongation of the conflict and the resulting logistical constraints have begun to affect the European region. The impact of the war will become more serious in Q2,” Lim added.
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