The smartwatch market is hotter than ever, with devices launching almost every month. Samsung is no exception with the new Galaxy Watch5 series. However, surprisingly, the popularity of the new Galaxy Watch4 predecessor is the "weapon" that helps the Korean technology company significantly increase its market share in the global smart watch market.
Samsung increased its share of global smart copper shipments from 7.4% to 9.2% between Q2 2021 and Q2 2022. On the other hand, Apple fell 30.6% to 29.3% in the same period. The finding is part of the Global Smartwatch Tracking Tool published by Counterpoint Research.
Global shipments in the second quarter increased 13% year-on-year with the most prominent market being India, where the market segment has grown with the arrival of smart watches. Low-priced low-priced brands expensive options include the Galaxy Watch4, which is quite popular in North America, whose retail channels have grown by 347 percent.
Within a year, India increased its share of smartwatch shipments from 6% to 22%, surpassing China by 1% to rise to second place. North America leads the way, but production is down 4% year-over-year.
Sujeong Lim, Vice President at Counterpoint, says that the smartwatch market has grown on its own despite previous recession predictions. She added that 30% of the watch models shipped in India in the second quarter of 2022 were sold for less than 50 USD (about 1.2 million VND), leading to the widespread use of smart watches in the region. . The main drivers for India are brands like Fire-Boltt and Noise, with 298 percent year-on-year growth.
Huawei , the company that holds the 2nd place in smartwatch shipments has been pushed down to 3rd place after just one year. However, the brand still dominated the Chinese smartwatch market for the third consecutive quarter.
Amazfit 's shipments fell 11% in China even though the company did pretty well in India, up 65% from the first quarter. Xiaomi smartwatch market share decreased slightly in the second quarter of 2022.
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