Smartwatch market grew 13 percent last quarter, no growth in Europe

The smartwatch market grew 13 percent in the quarter compared to the same period a year earlier. This is evident from research by Counterpoint. Apple remains the largest smartwatch supplier and Samsung is in second place.

According to Counterpoint smartwatch shipments increased in virtually all regions; only in Europe did the number of deliveries remain more or less the same. Apple and Samsung did grow within Europe, but other major manufacturers underperformed in the region, according to Counterpoint. The research firm states that the war in Ukraine had little effect on this, but that could change in the coming quarter. “The prolongation of the conflict and the resulting logistical constraints are starting to affect the European region. The consequences of the war will become more severe in the second quarter.”

Among the various manufacturers, Apple delivered 14 percent more smartwatches in the first quarter of this year than a year earlier. This gives the tech giant 36.1 percent of the smartwatch market. According to the research firm, those higher sales in the past quarter are partly because the Apple Watch Series 7 was released a month later than planned. The brand loyalty of iPhone users also contributed to the growth.

Samsung also had a strong quarter, delivering 46 percent more wearables than a year earlier. 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, which puts the manufacturer in second place. Xiaomi delivered 69 percent more smartwatches compared to a year ago. Much of that consisted of models costing less than $100, Counterpoint writes. Xiaomi now has a market share of 5 percent and is therefore fourth for the first time.

Huawei is currently in third place, but continues to lose market share. The number of deliveries remained about the same as last year, and the company did not grow with the smartwatch market. Due to trade restrictions, Huawei is shipping fewer smartwatches outside of China, which explains the decline in market share. The company now has a market share of 7.2 percent, compared to 8.2 percent a year ago. Garmin was ranked 5th in deliveries last quarter, but was ranked 3rd in revenue, according to Counterpoint, as the company sells more expensive smartwatches. That manufacturer did especially well in the segment above 500 dollars. Furthermore, Fitbit’s market share declined, because that company has not released any new models recently.

Source: counterpoint