The sales of Galaxy Watches and other Galaxy wearable devices have increased this year. In comparison, sales of Apple Watches have dipped slightly compared to last year.
While other brands sell more wearables than Samsung, their profit aren't as high as the South Korean firm.
Samsung gets second highest revenue from smartwatch and wearable sales
According to a new report from market research firm Canalys, Samsung ranked fourth globally in terms of wearable sales. During the third quarter of this year, Samsung shipped 4.8 million Galaxy Fit and Galaxy Watch devices. The Galaxy Fit 3 sold well, according to the report.
Despite having just 9% of sales volume, Samsung enjoyed the second-highest revenue from wearable sales, behind only Apple.
Apple was the highest-selling smartwatch/wearable brand worldwide, with 8.5 million shipments and 40% of the global revenue.
Xiaomi, which shipped 16% of all wearables worldwide, ranked second in terms of shipment volumes. However, its revenue was just 4%, which means it is selling lower-end wearables with minimal margins.
Cynthia Chen, Research Manager at Canalys, said, “Emerging markets offer vendors the chance to expand through cost-effective devices, as evidenced by the success of Xiaomi’s band series and Samsung’s Galaxy Fit 3 in driving growth in Latin America and EMEA.”
Huawei ranked third globally, with a 14% market share in terms of shipments. However, it ranked fourth in terms of revenue.
Garmin, which ranked sixth in terms of wearable sales, managed to grab the third rank in terms of revenue. It ranked above Huawei, Google, and Xiaomi.
