New market intelligence knowledge means that the Apple Watch has seen its finest ever Q3 shipments, up 7% year-on-year. The newest Apple Watch SE was credited with contributing “considerably” to that development.
The most important winner was Huawei, which this 12 months emerged as a serious participant within the premium smartwatch market, taking lots of its gross sales from Samsung …
Counterpoint analysis shared its knowledge for the premium smartwatch market, which it defines as watches able to operating third-party apps. The agency labels these as Excessive-level Working System (HLOS) smartwatches.
Apple Watch
Apple delivered its best-ever Q3 efficiency, with a 7% YoY enhance in shipments. This achievement is especially noteworthy on condition that the most recent Apple Watch, a key product of their lineup, was launched barely later than the earlier 12 months. The sturdy shipments of the 2nd-generation SE mannequin considerably contributed to the expansion of the trade chief.
That development was truly barely decrease than the market as an entire, which grew by 9% in the identical interval.
International smartwatch shipments elevated 9% YoY in Q3 2023, in keeping with Counterpoint Analysis’s newest International Smartwatch Mannequin Tracker. After experiencing a slowdown earlier this 12 months, the smartwatch market regained momentum in Q2 2023 and continued the optimistic development in Q3 as properly. The first drivers of this development have been the sustained sturdy efficiency of the Indian market led by Hearth-Boltt, in addition to Huawei’s super rebound in China.
Huawei
Huawei was the standout, because the agency by some means bounced again from US chip sanctions which successfully worn out the corporate from the smartphone market – and far of its smartwatch gross sales relied on bundles with its telephones.
Huawei witnessed a formidable 56% YoY enhance in total shipments for the quarter, with HLOS smartwatches seeing a outstanding 122% surge. Its Watch 4 and 4 Professional sequence, launched in Q2 2023, and the Watch GT 4, launched in Q3 2023, have achieved good recognition. The rise in Huawei’s shipments was as a result of return of its smartphones and the bundled gross sales mannequin induced by varied gross sales channels.
Samsung
Whereas Samsung’s Galaxy Watch 6 Basic appears to be promoting properly, older merchandise skilled a big drop in demand.
Samsung skilled a 19% YoY decline in shipments. Nevertheless, the brand new merchandise launched in August exhibited solely a 3% drop in comparison with the earlier ones. In essence, the lower in Samsung smartwatch shipments this quarter seems to be primarily attributed to a sharper decline of legacy fashions. In the meantime, the proportion of the Galaxy Watch 6 Basic considerably elevated in comparison with final 12 months’s 5 Professional, contributing to the rise within the ASP of the model.
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