Demand for wearable devices continues to rise and Samsung certainly has its eyes on the prize. The company has released several new wearable products over the past year to increase its market share. The strategy appears to be working.
The latest data from market research firm IDC reveals that Samsung's shipments of wearable devices in the quarter ending September 2019 has grown by an impressive 156.4 percent compared to the same period last year.
Samsung takes third position in the wearables market
The wearable market posted strong year-over-year growth of 94.6 percent with 84.5 million units being shipped in the third quarter of this year. That was also a new record for shipments in a single quarter. However, the bulk of this growth was led by “hearables” or wireless headphones. That was to be expected as more and more smartphone vendors are removing the headphone jack from their devices.
Apple and Xiaomi occupy the first two spots with shipments of 29.5 million and 12.4 million units respectively. The former saw increased demand for its smartwatch and wireless earbuds while Xiaomi's competitively priced Mi Band activity trackers did well in markets across Europe, Middle East and Africa.
Samsung takes the third position with a 9.8 percent share in the wearable market this past quarter. It shipped 8.3 million units, an impressive 156.4 percent increase compared to the 3.2 million units shipped in Q3 2018.
That number will likely increase as the company introduces new wearable products. There may very well be a new smartwatch on the horizon. Samsung also has the new Galaxy Buds+ in the pipeline with new features such as active noise cancellation.
