Wearables
Huawei edges out Samsung, ranked 2nd in 2024 global wearable market
Apple, Huawei, and Samsung have entered the top three rankings in the 2024 global wearable market. While the American firm is seeing a significant drop in smartwatch sales, the Chinese OEM showed a strong performance in the selling segment.
Counterpoint’s latest analysis shows that Huawei has surpassed Samsung in the global wearable market for 2024. After the foldable battle, the Chinese tech giant edged out its South Korean rival in the smartwatch category as well.
Huawei’s market share increased from 9% to 13% year-on-year. It achieved an annual sales rate of 35% YoY – thanks to the impressive Watch GT 5 series and Watch D2.
The company launched three major smartwatch lines last year: Watch GT 5, Watch D2, and Watch Ultimate Green Edition. While the first two bring super-efficient health capabilities, the last one focuses on Pro-gaming and performance.
Huawei also introduced the TruSense Health System for smartwatches that promises precise health reports and faster outcomes on health assessments at all times.
Apart from the global market, Huawei also remained at the frontline in the Chinese wearable race last year. It mainly gained attention in the kids’ watch category.
Apple topped the ranking but with a 19% YoY decline in the shipments. It has been a root cause behind the first-ever decline of the global smartwatch sales (7% drop).
Samsung, on the flip side, saw a raise of 3% due to the popularity of Galaxy Watch 7, Galaxy Watch Ultra, and Galaxy Watch FE. Xiaomi has become the fastest-growing brand in the 2024 global wearable market and achieved 135% YoY sales increase. Imoo secured 22% year-on-year hile in the smartwatch shipments.
2024 Global Wearable Market Shipment Report (Image Credits: Counterpoint)
Region-Wise
In terms of regions, China captured the biggest shipment share for the first time, following the impressive sales performance of Huawei, Xiaomi, and Imoo.
Regarding the smartwatch categories, Counterpoint notes that the kids’ section has seen positive growth in the 2024 wearable market, with Imoo as the leading brand. Parents looking for their children’s safety are attracted to the kids’ wearables.
Counterpoint’s Associate Director David Naranjo said:
“The smartwatch market is expected to recover slowly and witness single-digit percentage growth in 2025. Brands will emphasize on getting regulatory approvals for their new smartwatch models and incorporating new health features to sustain their position in the market.”
Huawei edges out Samsung, ranked 2nd in the 2024 global wearable market (Image Credits: Counterpoint)
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