Huawei Surges to Top Spot in Global Smartwatch Market, Overtaking Apple

Huawei has achieved a significant milestone by overtaking Apple to become the world’s leading smartwatch manufacturer. According to data from Counterpoint Research, Huawei captured 21% of the global smartwatch market in the second quarter of 2024, while Apple fell to 17%. This marks the first time Huawei has surpassed Apple in smartwatch sales.

The market landscape has shifted considerably, with Xiaomi following in third place with a 9% market share, while imoo and Samsung hold 7% and 6% respectively. Together, other manufacturers account for 40% of the market, showcasing a competitive landscape.

Huawei’s growth has been remarkable, with shipments increasing by 52% year-over-year. In contrast, Apple experienced a 3% decline in shipments during the same period. Xiaomi also demonstrated strong performance, with a 38% increase in shipments.

Shifting Market Dynamics

Imoo, often less recognized, has emerged as the fourth-largest smartwatch brand, primarily focusing on smartwatches designed for children. The company reported a 21% increase in shipments year-over-year. Conversely, Samsung’s position as the fifth-largest manufacturer has been less favorable, as it, too, saw a 3% decrease in shipments, mirroring Apple’s decline.

The overall smartwatch market has faced challenges, with combined shipments for other manufacturers down by 8% year-over-year. Yet, Huawei’s success can largely be attributed to substantial growth in its home market of China, alongside strategic expansions in various regions worldwide.

Data from Counterpoint Research highlights how dramatically the smartwatch landscape has changed over the past year. In Q2 of 2023, Apple held the top position, while Huawei ranked second. The latest figures illustrate the swift evolution of consumer preferences and market dynamics within just a year.

As the smartwatch industry continues to develop, it remains to be seen whether Huawei can maintain its lead over Apple and other competitors. The competitive spirit of the market promises to yield further innovations and shifts, reflecting the ever-evolving technology landscape.