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We’ve been talking about wearables for a long time. Smart watches and bracelets have become a huge portion of the market in their own right, although in recent times we have seen discouraging figures within it. Still, that doesn’t stop manufacturers from continuing to bet on them, nor from users from continuing to buy them (even if the craze has subsided a bit).
There has always been a historical leader in this market, which is none other than Apple. But while they are still holding on to their laurels, a study conducted by IDC suggests that there are beginning to be changes in the pursuers and on Apple’s own side, which augur that the balance of power could change within a while.
Xiaomi goes for the top spot, Huawei enters the podium
Apple has maintained, as we said, the first place. However, its growth has slowed by more than 18% and has lost more than 6% market share compared to the first quarter of 2023. Analysts attribute this fact to the lack of new AirPods, the ban on the sale of certain Apple Watch models and the drop in sales of its smartwatches by 19.9%.
Xiaomi comes in second, with a spectacular growth of 43.4% and taking 10.5% of the global market share. Their cheap wearables (which don’t do exceptional things but work) resonate with users easily, and their re-entry into the Wear OS ecosystem has elevated them to the third largest manufacturer in Google’s watch ecosystem.
Huawei has snatched the bronze from Samsung. The company has a plan for Harmony OS to succeed, which seems to have been well received and has boosted its smartwatch business. However, this impact is almost exclusively confined to China, with three-quarters of sales focused on the territory. However, they grew by a very spectacular 72.4% and took a 9.6% market share.
From fourth place and with a 9.3% market share, Samsung picks up on what it has meant to launch the Galaxy Fit 3, its first activity tracker and one of the Korean firm’s cheap wearables. This has helped the company achieve 13% growth over the first quarter of last year, but Huawei has overtaken them on the right.
Close the Imagine Marketing table. This Indian brand is focused on bringing affordable products to market, although that has not prevented them from having a negative growth of almost 5% and their market share from remaining at 5.4%.
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