Huawei’s smartwatch market could decline this year: Trendforce

Huawei’s smartwatch may need to embrace a slight decline in its market share this year due to changing customer trends, says Trendforce.

According to the data, Apple leads with over 30% market share. Samsung comes second with 10%, Huawei ranks third with 7%. Meanwhile, Garmin ranks fourth and Fitbit fifth. Other smartwatch makers now cover 46% of the overall market share.

Among them, Huawei and Fitbit are forecasted to lose their market share, Huawei by 1% and Fitbit by 2%. Apple, Samsung, and Garmin could retain their shares but there was no progress either.

The researcher pointed out that these smartwatch makers will get involved in more shipments but they’ll try hard to bring new functionalities to users.

Overall, Trendforce estimated that the smartwatch market will grow to 130 million units by the end of 2023. Brand manufacturers’ share of shipments hasn’t seen significant changes, and they continue to introduce innovative products.

(source)