Apple Watch seems to have suffered the negative effects of inflation in the first quarter of this year. The report by Counterpoint Research revealed that Apple had the worst first quarter of the last three years in smartwatch sales.
All models, from the Apple Watch Ultra to the Apple Watch SE, have been affected. Published data show that Apple Watch shipments fell by 20% worldwide between January and March 2023, falling below 10 million.
This poor performance in sales also had an impact on Apple’s market share, which fell from 32% to 26%. Counterpoint Research’s report shows that the Cupertino company has experienced a noticeable decline in its dominance in the smartwatch market.
Fire-Boltt sales explode
Despite the decline in Apple Watch sales, competitors seem to have not taken advantage of this situation. On the other hand, India-based Fire-Boltt sales exploded. The brand placed second in the global smartwatch market, surpassing Samsung for the first time.
It is interesting that, unlike the smart watch market, the same decline has not been experienced in smart wristband sales. This shows that simpler and cheaper wearable accessories still attract the attention of consumers. Inflation has undoubtedly affected consumers’ purchasing power, causing them to reduce their spending on high-end products like the Apple Watch.
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