Global smartwatch shipment rankings in the second quarter: Apple and Huawei occupy the top two

Recently, TechInsights released the latest data stating that after six consecutive quarters of declining shipments, the global smartwatch market returned to growth in the second quarter of 2024, with a growth rate of 4%. Previously, the market had continued to grow every quarter since the fourth quarter of 2016. Smartwatch shipments fell 4% for all of 2023, marking the market's first-ever annual decline.

Smart watch market leader:

1. Apple: Global smart watch market leader with shipments of approx. Accounting for half, the value share is even more advantageous.
2. Huawei: ranks second in global smartwatch shipments.
3. Samsung: Shipments fell 12% year-on-year and market share was 12%.
4. Garmin: Shipments increased by 29% year-on-year.

Underperforming suppliers:

• Fitbit: After being acquired by Google, focus on the Google Pixel product line , there are no updates to the Fitbit Versa or Fitbit Sense series.
• Fossil: The demand for smartwatches has dropped significantly and it has decided to withdraw from the smartwatch market.

Market Trend:

• The global smart watch market has experienced greater volatility in recent years, but is generally on an upward trend.
• Suppliers need to adopt strategies to enhance competitiveness based on market changes and consumer demand.

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