Samsung's smartwatch and wearable sales have improved recently, but its ranking still fell in the growing market. The South Korean firm dropped from third to fourth ranking in the global wearable market as Huawei overtook Samsung.
Samsung smartwatch sales improved by 13% in Q1 2024
According to the latest data from market research and analytics firm IDC, Samsung ranked third in the global smartwatch and wearable market. It shipped 10.6 million wearable devices like the Galaxy Fit 3 and the Galaxy Watch 6. The company's market share improved from 9% in Q1 2023 to 9.3% in Q1 2024. That is a 13% improvement compared to last year.
Samsung's shipments are expected to improve next quarter, as the company is expected to launch up to four new smartwatches, including the Galaxy Watch FE, Galaxy Watch 7, and the Galaxy Watch 7 Ultra.
Apple was the biggest smartwatch brand globally, with its shipments reaching 20.6 million units. That is a drop of 18.9% in shipments of Apple Watches compared to last year. However, the company's shipments are expected to improve in this year's third or fourth quarter as people will be waiting for the Apple Watch Series 10.
With its cheap Mi Band devices and the new Wear OS-based smartwatch, Xiaomi shipped 11.8 million units. The Chinese brand captured a 10.5% share of the global wearable market, a huge 43.4% improvement over the 8.2 million shipments it managed in Q1 2023.
Huawei was the biggest gainer, with a year-over-year growth of 72.4%. The Chinese firm's wearable shipments reached 10.9 million, just edging past Samsung. Its market share was 9.6%, which is higher than last year's figure of 6.1%. However, IDC notes that most of these shipment figures are a result of bundling smart devices with the company's phones
You can watch our Galaxy Watch 6 Classic review in the video below.
Hopefully, Samsung will be able to claw back to the third, or even second position in the next few quarters after the launch of its upcoming Galaxy Watches.
