The latest data by Counterpoint shows that the smartwatch market recorded 13 per cent more shipments in Q1 2022 compared to the same period last year.
- Apple led the smartwatch market with a share of over 36 per cent.
- At the second position, Samsung showed a growth to 10.1 per cent.
- Xiaomi broke all its previous sales records with maximum growth.
Apple has emerged as the best-selling smartwatch brand in the world during the first quarter of 2022, according to Counterpoint Research. The Apple Watch captured a 36.1 per cent market share during the quarter, more than three times the share of Samsung which cornered 10.1 per cent of the market. For Apple, it was a 14 per cent year-over-year growth, boosting the brand’s presence in the smartwatch market.
The latest data by Counterpoint shows that the smartwatch market recorded 13 per cent more shipments in Q1 2022 compared to the same period last year. Factors like economic slowdown and global inflation did not hurt the sales of smartwatches this year, as opposed to little growth in 2020 due to the Covid-induced disruption.
Apple Watch’s bumper sales in the past quarter piggybacked on brand loyalty, according to Sujeong Lim, Associate Director at Counterpoint Research. The fact that the Apple Watch is tied to the Apple ecosystem makes it kind of necessary to be used with an iPhone. And even though the iPhone can be paired with a Wear OS watch, the functionality is limited — pushing users towards the Apple Watch. Another reason is the delayed release of Apple’s latest smartwatch. The latest Apple Watch Series 7 was available in the market at least a month late and that helped the company continue its lead in the market. Lim said Apple’s market share is likely to rise by the year-end when the next Apple Watch model is expected to be introduced.
With a market share of 10.1 per cent in the second quarter, Samsung, retaining second place, registered a growth of 46 per cent year-over-year in shipments. The maximum sales of the Samsung Galaxy Watch 4 came from the APAC (Asia Pacific) region. In the same period last year, Samsung had a market share of 7.8 per cent. Huawei’s market share took a dip from 8.1 per cent last year to 7.2 per cent during the same period because of its weak position in the global market.
Xiaomi secured the fourth rank in the list, registering a growth of 69 per cent year-over-year. According to the report, Xiaomi is breaking its shipment record every quarter — a sign of growth for the brand that has been aggressively pushing wearables in the market. Xiaomi’s low-end offerings, which are priced under $100, drove the maximum sales for the company. Garmin and Amazfit ranked fifth and sixth on the list and just like Xiaomi, their sales were, too, driven by affordable smartwatches.