Global Smartwatch Market in Q2 Grows 27% YoY... Samsung Ranks 3rd

[Asia Economy Reporter Eunmo Koo] The global smartwatch market in the second quarter of this year grew nearly 30% compared to the same period last year, driven by strong demand for products priced under $100. While Apple maintained its number one market share, Samsung Electronics also showed signs of recovery after a sluggish performance last year.

According to the Global Smartwatch Model Tracker published on the 26th (local time) by global market research firm Counterpoint Research, global smartwatch shipments in the second quarter of this year increased by 27% compared to the same period last year. In particular, smartwatches priced under $100 led the growth with an annual growth rate of 545%, showing strong demand.

Apple held the top spot with a market share of 28.0%, but its share slightly declined from 30.1% in the same period last year due to intensified market competition. Apple surpassed 100 million active users by the second quarter. Researcher Sujeong Lim of Counterpoint Research analyzed, "Apple’s continuous offering of attractive designs, health features, and related services has had an impact."

Samsung Electronics ranked third with a market share of 7.6%. The steady popularity of the Galaxy Watch3 and Galaxy Watch Active2 helped the company recover from a somewhat sluggish performance last year. Meanwhile, Huawei maintained its second place but saw its market share drop by 3.8 percentage points from 13.1% in the second quarter of last year to 9.3% this year. Counterpoint Research explained, "The decline in the smartphone business appears to have affected smartwatch sales," adding, "Smartwatches are closely optimized to the user's loyalty to the brand’s smartphones and product ecosystem."

Meanwhile, the Indian market, which accounted for less than 2% of the total market last year, showed high growth by increasing its share to 6% within a year. Researcher Ansika Jain of Counterpoint Research explained, "The spread of affordable yet feature-rich smartwatches from Chinese brands such as Xiaomi, Realme, Oppo, and Indian brands was a major growth driver for the market."

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