Apple has been overtaken in global wrist-worn device shipments, signalling a major shift in the wearable tech market, with Huawei now leading.
Data from the International Data Corporation (IDC) reveals that the total shipments of wrist-worn devices, including fitness bands and smartwatches, reached 139 million units in the first three quarters of 2024. This represents a slight 1% decrease from the previous year.
Huawei showcased a significant shipment rise by 44.3%, selling 23.6 million units. Despite a general downturn in this market area, this growth marks a robust recovery for the company, especially in the smartwatch segment.
Global smartwatch shipments fell by 3.8% to 112.2 million units, while fitness trackers grew by 12.7%, reaching 26.8 million.
Although Apple remains the leader in the premium smartwatch sector, particularly with its Apple Watch Series 10, its overall market position has weakened due to its absence from the fitness band segment, which has experienced increasing competition from more affordable products.
Apple’s strategy focuses exclusively on premium products, constraining its market penetration, especially in emerging markets where cost-effective options are more popular.
Samsung, however, has maintained its fourth-place position by adopting a diverse strategy that targets various price points, resulting in a 24.3% increase in shipments. Its product range, including the Galaxy Watch 7 series and the budget-friendly Galaxy Fit3, caters to a broad consumer base.
Other brands like Xiaomi and BBK (parent company of OPPO, OnePlus, and Vivo) have also achieved significant growth, with increases of 26.5% and 25.9%, respectively, capitalizing on the demand for economical wearables in emerging markets.
As the wearable market continues to evolve, the current slowdown may offer opportunities for brands to innovate and expand their product lines to attract a wider customer base.
