Between January 2022 and March 2022, according to a report by Counterpoint Research, the smartwatch market saw a 13% increase in shipments. Further analysis of the global wearable market has shown that in spite of the quarterly 24% decline, Apple, Samsung, and Xiaomi have all recorded an increase on yearly basis. However, that is understandable as the holiday quarter is not easy to match.
Sujeong Lim, Associate Director, has stated that brand loyalty is the primary factor behind Apple’s success. The Cupertino company also increased its overall share, along with its year-on-year shipments by 14%.
Despite ranking third, Huawei kept flat shipments due to weaker international positions. Users in major markets do not seem particularly inclined to switch to smartwatches by the Chinese company due to wariness about the lack of GMS in mobile devices. Huawei showed considerable growth in performance in the domestic market.
The report stated that most key regions grew in terms of total shipments, and Europe was the only one remaining flat. The war in Ukraine and the resulting logistical constraints affected the market. The resulting impacts of the Russia-Ukraine conflict may be expected to reflect even more seriously in the second quarter.
According to the report, Garmin was the premium segment leader for wearables over $500. Google-owned US smartwatch maker Fitbit saw a massive decline according to the report. However, this is likely because, following its acquisition from Google, it has not launched any new products. Moreover, the switch to Wear OS has not yet happened.