Apple retained its top spot buoyed by the late launch of the Apple Watch 7 as global smartwatch shipments posted 13% year-on-year growth in the first quarter of 2022 despite concerns about economic slowdown and inflation, according to a report. Samsung cemented its second position with the popularity of the Galaxy Watch 4 series. Huawei, Xiaomi, and Garmin completed the top five list with Xiaomi doing well with the highest quarterly shipments registering a 69 percent year-over-year growth in the quarter.
According to the Global Smartwatch Model Tracker from Counterpoint Research, Apple maintained strong progress and recorded a 14 percent year-over-year increase in the first quarter of 2022. Due to the delayed launch of the Apple Watch 7, some shipments were carried over to the first quarter of 2022 to help the iPhone maker To maintain the number one position in the world with a market share of 36.1 percent.
Although the global smartwatch market saw slight growth in 2020 due to the impact of Covid-19, it has continued to perform well since its recovery last year. In particular, Apple accounted for more than a third of total shipments last year, and it is 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 was placed by Samsung, which posted a 46 percent year-on-year increase in shipments due to its growth in the Asia Pacific region driven by the popularity of the Galaxy Watch 4 series. The South Korean giant captured 10.1 percent of the global market share. In third place, Huawei’s growth has remained flat year-on-year (7.2 percent share) in terms of shipments due to its weak position in the international market.
Another Chinese brand, Xiaomi, recorded the maximum annual growth rate (69 percent) with its increasing penetration in international markets. The report says that Xiaomi’s sales focused on the lower segment wearables sales (under $100, or roughly Rs 7,800), capturing 5 per cent of the market share.
The Counterpoint report also says Garmin (4.3 percent share) ranked fifth in terms of shipments, but ranked third in terms of revenue due to higher ASP. “It occupies the bulk of the premium category over $500 (about Rs 38,850),” the report noted. It is followed by Amazfit (4 per cent) which had the success of the GTR 3 series and the GTS 3 launched in the last quarter of 2021.
Another player is FitBit which has seen a drop in its sales. It merged with Google, and appears to be undergoing an internal reorganization. No models were released last year, and the transition to Wear OS has also been delayed. It captured 2.7 percent of the market share.
The Counterpoint report says that most of the major regions grew on an annual basis, but Europe recorded steady growth.. “We initially expected the war between Russia and Ukraine to have little impact on the market in the first quarter, but the prolongation of the conflict and the resulting logistical constraints began to affect the European region. He added. Lim said the impact of the war would become more serious in the second quarter.