Huawei Surges Ahead of Apple to Claim Top Smartwatch Spot

Huawei has overtaken Apple to become the world’s leading smartwatch manufacturer for the first time, according to data from Counterpoint Research. In the second quarter of 2024, Huawei captured 21% of the global smartwatch market, while Apple slipped to 17%. This marks a significant shift in the competitive landscape of wearable technology.

Xiaomi ranks third, with a market share of 9%, followed by imoo at 7% and Samsung at 6%. Collectively, these five brands account for only 40% of the market, indicating a broad range of other manufacturers contributing to the remaining share.

Huawei’s remarkable growth is underscored by a staggering 52% year-over-year increase in shipments. In stark contrast, Apple’s shipments declined by 3% during the same period. Xiaomi also experienced a significant growth trajectory, with a 38% rise in its shipments. Despite this progress, Xiaomi remains well behind Apple in overall market share.

Market Dynamics and Performance Insights

Imoo, a lesser-known player primarily focused on children’s smartwatches, has emerged as the fourth-largest smartwatch vendor, achieving a 21% increase in shipments year-over-year. Samsung, on the other hand, faced challenges, with its shipments also declining by 3%. The combined total for other smartwatch manufacturers saw an overall decline of 8% year-over-year, highlighting the competitive pressures in the market.

According to Counterpoint Research, Huawei’s ascendancy in the global smartwatch arena can be attributed to its robust performance in China and strategic expansion into several other regions. The data suggests that the company has effectively leveraged its brand strength and product innovation to capture consumer interest.

The graph published in the report illustrates the dramatic changes between Q2 2023 and Q2 2024. In the previous year, Apple held the top position, with Huawei in second place. The reversal of this trend raises questions about the sustainability of Huawei’s lead and whether Apple can reclaim its position in the market.

As the smartwatch sector continues to evolve, industry observers will be keen to see if Huawei can maintain its newfound dominance or if Apple will initiate a comeback. The competition remains fierce, and consumer preferences will play a critical role in shaping the future landscape of wearable technology.