Apple, Huawei, and Samsung lead global smartwatch shipments in third quarter of 2020




Continuing their growth trajectory amid the COVID-19 pandemic, global smartwatch shipments increased by 6% in the third quarter of 2020 compared to the same period last year, according to the recently published Global Smartwatch Model Tracker of Counterpoint Research.

Apple remained the market leader, increasing its share by 2 percentage points compared to the previous year. It launched its first mid-tier smartwatch, the Apple Watch SE, during the quarter. Priced at less than $300, it received a lot of attention from the market. Huawei also managed to maintain its second position with a 15% share, thanks to the good performance of its newly launched models, especially the ones for children. With the successful launch of the Galaxy Watch 3, Samsung took the third position, overtaking BBK (Imoo brand) during the quarter.

Global smartwatch shipment share % in Q3 2020 vs Q3 2019

Global Smartwatch Shipment Share % in Q3 2020 vs Q3 2019

Senior Analyst Sujeong Lim said: “In terms of sales, Apple’s position is even stronger. In the third quarter, it achieved $2.3 billion, nearly half of global smartwatch shipments and an 18% increase over the same period last year. Samsung had stagnated in the first half of 2020. Since it appeals to fewer premium consumers compared to Apple, demand from its base was weaker during the pandemic. But it rebounded in the third quarter with the launch of the Galaxy Watch 3. In terms of revenues, Samsung grew 59% YoY and is expecting good growth momentum now.”

By region, China managed to surpass North America in shipments after seven quarters to become the market leader. The North American market, which showed a significant growth with the release of the Apple Watch Series 4, had continued to dominate since the fourth quarter of 2018, but China managed to edge ahead in the third quarter of 2020. China, where the share of children smartwatches exceeded 70% in the past, is now witnessing a growth momentum in the ‘normal’ smartwatch category.

Global smartwatch shipment share % by region

Global Smartwatch Shipment Share % by RegionIndia, which occupies only about 4% share, has emerged as a bigger market than the MEA (Middle East and Africa) and Latam (Latin America), with shipments growing 95% YoY.

Lim added: “In India, local brand Noise is growing rapidly while realme, a Chinese brand familiar to Indian consumers,  launched the Watch in the third quarter. The country’s smartwatch market seems to have reached its first period of growth, thanks to the active expansion of brands. The market is expected to grow in earnest from the end of next year after recovering from COVID-19.”

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