Apple records record-breaking quarter in smartwatch industry

With the recent release of the Apple Watch Series 9 and Apple Watch Ultra 2, Apple set the stage for a potentially lucrative fourth quarter and annual performance. According to the latest data, Apple has reinforced its role as leader in the smartwatch sector.

According to Counterpoint Research (via 9to5Mac), the Apple Watch not only dominates the smartwatch market but also recently recorded its best third-quarter performance in history in this area. This success is primarily driven by the increased shipments of Apple smartwatches, which saw a 7% rise compared to the third quarter of 2022.

Presently, Apple holds a commanding 45% share in the global smartwatch market. But its also a growing market – in Q3 2023, the market experienced a 9% increase in shipments compared to Q3 2022. This growth has been partly attributed to the robust performance of the Indian market, particularly in the premium smartwatch segment—those capable of running third-party applications.

While Apple’s achievements are noteworthy, Huawei has made an impressive leap in the same period. The company reported a staggering 56% increase in its smartwatch shipments globally, earning it 14% of the market share. This surge places Huawei close behind Samsung, which experienced a 19% decline in shipments compared to the end of 2022.

Overall, the smartwatch market is witnessing a competitive and dynamic landscape, with Apple maintaining a strong lead but facing increasing competition from other tech giants like Huawei and Samsung. This competition is fostering innovation and variety, benefiting consumers with a range of choices in the smartwatch sector.