The wearable technology market entered the second quarter of this year with a two-quarter losing streak. The good news, as Canalys points out, is that shipments in the worldwide smartwatch market in the second quarter were up 6% year-on-year, with 44.2 million products shipped worldwide over the three months. So, which company took how much market share and who is at the top?
Who is the leader in the smart watch category?
Apple took the lead this quarter with sales of 8.1 million Apple Watches, down 3% year-over-year. Although Apple’s market share decreased from 20% to 18% compared to the same quarter last year, it retained its leadership. The next manufacturer after Apple was the Chinese technology giant Xiaomi.
Xiaomi ranked second after Apple by selling 4.8 million products, the same level as last year. As a result, Xiaomi kept its market share at 11%. Huawei came in third, shipping 4.1 million units in the quarter, thanks to a 13% increase in core band, watch and smartwatch shipments. Huawei’s 10% market share was 1 percentage point higher than last year’s 9%.
Canalys Research Analyst Jack Leathem said: “The wearable market is experiencing a resurgence driven by increasing consumer demand for various aspects of daily life. “Demand across different segments is picking up, allowing sellers to meet specific consumer needs.”
India-based wearable device company Noise ranked 4th with 3.5 million units shipped. The company, which offers a wide range of Bluetooth smartwatches, had the biggest annual gain among manufacturers on the list, up 93% from the previous year. The company’s market share increased from 4% in the second quarter of last year to 8% this year.
Fire Boltt, another Indian wearable brand, came fifth on the list. Fire Boltt shipped 3 million units, a significant increase of 86% year-on-year. The company’s market share increased from 4% in the same quarter of 2022 to 7%. It is estimated that if the sector continues with such an increase, it will be ready for sustainable growth by 2027.
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