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India's global share of smartwatches surged by 347%, surpassing China to become the second largest market

Posting time:2022-12-06 00:13:10

India's global share of smartwatches surged by 347%, surpassing China to become the second largest market

IT House August 28 news, according to the Global Smartwatch Model Tracker recently released by Counterpoint Research, due to macro uncertainties such as inflation and geopolitical conflicts, the global smartwatch market shipments in the second quarter of 2022 increased by 13% year-on-year. . In particular, the smartwatch market in India has grown by more than 300% year-on-year, surpassing China to become the second. From the perspective of smartwatch brands, the top three globally in the second quarter of 2022 are Apple, Samsung, and Huawei.
  • Apple's shipments grew 8% year over year, also leading the quarter. However, as the effect of the new machine release gradually weakened, the decline in Apple Watch Series 7 shipments became larger than the previous quarter.
  • Samsung maintained its second position with 40% year-over-year growth. The Galaxy Watch 4 series has always been popular, especially in North America and India.
  • Huawei ranked No. 1 in the Chinese market for the third consecutive quarter. But with global expansion slowing, the brand will struggle to regain the world's No. 2 spot from Samsung.
  • Xiaomi's shipments increased by 13% year-on-year, with no significant change in market share. The brand needs to increase its presence in India to further expand its market share, but competition is not easy due to strong local brands in India.
  • Compared to last year, Garmin dropped two places to seventh. However, due to its higher average selling price, the brand ranks third in wholesale revenue behind Apple and Samsung.
  • Huami's Amazfit shipments fell 11% year over year due to weak demand in the Chinese market. But the brand performed well in India, growing 65% sequentially.
  • India's domestic brand Fire-Boltt saw significant growth in shipments, ranking first in the Indian market by quarterly shipments.
  • India's domestic brand Noise grew by 298% year-on-year and is popular in both online and offline markets in India. However, Noise lost its No. 1 spot in the Indian market with a 26% share due to Fire-Boltt's rapid growth.
IT Home understands that Counterpoint data shows that from the perspective of the global market, North America continues to rank first with a 31% share, but the gap with the second has narrowed. A notable market this quarter was India, which grew 347% year-on-year from 6% to a 22% market share, surpassing China as the second. Counterpoint said that this quarter, 30% of smartwatches shipped in the Indian market were priced below US$50 (about 344.5 yuan), mainly due to the introduction of cost-effective watches by domestic brands in India, which lowered the barriers to entry for consumers.

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