2023-08-29 13:45:00
The global smartwatch market is booming. After two consecutive quarters recording revenue losses, the industry returned to revenue in the 2nd quarter of 2023, according to an analysis released this Tuesday (29) by Counterpoint. Despite the growth, two of the main manufacturers registered a decline and caused a phenomenon in the segment.
Apple continues to lead the global smartwatch market with 22% of market share, reflecting a 10% drop compared to the same period in 2022, when it held 27% of the industry. The company that stands out is Huawei, which took the vice-leadership of the market by growing more than its North American rival.
The expansion of the main Chinese brand has stalled due to technological sanctions and the slowdown of the Chinese market. Despite this scenario, Huawei has aggressively invested in expanding the availability of its new products, such as the Huawei Watch 4.
“Huawei posted impressive Q2 growth, securing the #2 position in quarterly shipments for the first time in two years,” said Woojin Son, research analyst at Counterpoint. In highlight, the company observed a growth of 52% in the segment of products that cost less than US$ 500 (regarding R$ 2,400).
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Another renowned company in the market is Samsung, which disappeared from the podium following suffering a significant drop of 19% in its revenue in the last quarter, which also opened space for the rapid expansion of Huawei. With the launch of the Galaxy Watch 6, the South Korean is expected to have better results in the next quarter.
Fabricantes indianas avanam
Indian brands such as Noise were some of the main highlights of the last quarter, boasting growth of 86% and 70% respectively. The company stood out in the segment of more affordable smart watches – with prices in the range of US$ 50 (regarding R$ 240), such as the ColorFit Icon 3 – and reached 3rd place on the global podium;
Speaking of each region’s participation in the smartwatch industry, the India market surpassed North America and reached 34% of market share — a significant increase of 12 percentage points compared to the same period last year. 88% of Indian smartwatches shipped cost less than $50.
North America suffered a 9% reduction in its participation in the industry, being practically tied with China, which grew 5%. In other regions of the world, including Europe, participation fell from 31% to 25%.
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