Smartwatch market grew by 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 according to 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 about the same. Apple and Samsung did grow within Europe, but other major manufacturers performed less well in the region, according to Counterpoint. The research firm states that the war in Ukraine had little effect on this, but that may 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 serious 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 means that the tech giant has 36.1 percent of the smartwatch market. According to the research firm, the 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, shipping 46 percent more wearables than a year earlier. This is partly due to the release of the Galaxy Watch4 series. With this, the South Korean manufacturer achieved 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. A large portion of that consisted of models costing less than $100, Counterpoint writes. Xiaomi now has a market share of 5 percent and is 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 drop 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 terms of shipments last quarter, but was ranked 3rd in terms of revenue, according to Counterpoint, as the company sells more expensive smartwatches. That manufacturer did especially well in the segment above $ 500. Fitbit’s market share also fell, because that company has not released any new models in recent times.

Source: counterpoint