For the first time in a long time, Apple Watch has lost its position as a leader in the wearables market. However, with the release of the new Series 10 model, Apple's smartwatch temporarily returned to the top spot in the third quarter of 2024.
This is stated in the Worldwide Wearables Quarterly Tracker report from the International Data Corporation (IDC), UNN reports.
Details
The market for wearables, including smartwatches and bracelets, decreased by 1% year-on-year in the first three quarters of 2024, with shipments of 139 million units. This was due to market saturation and increased competition, particularly in India and the United States. China, the largest market for such devices, showed 20.1% growth, with shipments of 45.8 million units.
Apple Watch is no longer the leader
Products with more diverse price segments have forced Apple to rethink its strategies. Although Apple still holds the top spot in the smartwatch market, the company needs to continue to introduce new innovations to maintain its leadership.
Huawei and Xiaomi are getting closer to leadership
Huawei, after launching new models such as GT5 and GT5 Pro, has significantly strengthened its position in the wearable electronics market. In particular, in the Asian, Latin American, Middle Eastern, and African regions, the company continues to grow steadily thanks to its localization strategy and brand strengthening in the international arena.
Xiaomi, for its part, also continues to develop actively in the wearables market. Its new products, such as the Xiaomi Band 9, as well as improvements in the Xiaomi Watch S series smartwatches, have brought the brand a significant increase in shipments. This allowed Xiaomi to strengthen its position in both the budget and mid-range segments.
Samsung and BBK are actively developing the wearable electronics market
Samsung has continued to develop its line of smartwatches and bracelets this year, and the launch of new models, such as the Galaxy Watch Ultra, has allowed the company to strengthen its position in the premium market. In addition, the company has expanded its presence in the wearables market with the Galaxy Fit3 in the sports bracelet category.
BBK, which manufactures children's watches under the IMOO brand, holds a leading position in the Chinese market. The company is actively developing its international strategy, expanding its presence in new countries through cooperation with local partners.
Recall
Apple on Wednesday began integrating OpenAI's ChatGPT into its devices.