Q1 Smartwatch Market Grows 25%... Apple Secures Top Spot

As Interest in Health Increases, the Smartwatch Market Continues to Grow

[Asia Economy Reporter Han Jinju] The smartwatch market grew by 25% in the first quarter. While the smartphone market slowed due to the impact of the novel coronavirus disease (COVID-19), sales increased as interest in health rose.

According to market research firm Counterpoint Research on the 26th, smartwatch sales in the first quarter of 2020 reached approximately 17.8 million units, a 25% increase compared to the same period last year.

The smartwatch market continues to grow steadily, driven by consumers' increasing interest in health, features such as heart rate measurement and exercise tracking, and its recognition as a fashion item.

Market share in the first quarter was ▲Apple (44%) ▲Samsung Electronics (10%) ▲Huawei (10%) ▲Amazon (7%) ▲Fitbit (5%) ▲Garmin (5%) ▲Fossil (3%) ▲Others (16%). Apple’s share increased by 3% compared to the same period last year, while Samsung’s share fell by 3%.

Park Jinseok, an analyst at Counterpoint, explained, "Apple increased its global market share, supported by the rapid growth of the U.S. smartwatch market. Huawei maintained its global share at the previous year's level despite a decline in sales in the U.S. market, thanks to a surge in sales in its home market, China. Samsung performed well in the European and Latin American markets but still lagged somewhat behind Apple in the U.S., the largest smartwatch market, in competition."

This content was produced with the assistance of AI translation services.