In a significant shift in the wearable tech market, Apple has been surpassed in global wrist-worn device shipments.
The development came as Huawei secured the top spot in the wearable device market.
According to data from the International Data Corporation (IDC), shipments of wrist-worn devices, including fitness bands and smartwatches, totaled 139 million units in the first three quarters of 2024, marking a slight decline of 1% from the previous year.
Huawei’s impressive performance saw its shipments rise by 44.3%, with a total of 23.6 million units sold. This marks a strong recovery for the Chinese tech giant, particularly in the smartwatch segment, which has faced a slight downturn overall.
While smartwatch shipments globally dropped by 3.8% to 112.2 million units, the fitness tracker category saw growth, increasing by 12.7% to 26.8 million units.
Apple continues to dominate the smartwatch market, leading in shipments of premium smartwatches, particularly with its new Apple Watch Series 10.
However, Apple’s overall standing has slipped due to its lack of participation in the fitness band market, which has seen increased competition from lower-cost alternatives.
The company’s premium-only approach limits its reach, especially in emerging markets where budget-friendly options are in higher demand.
Samsung, with its diverse strategy targeting multiple price points, has seen its shipments rise by 24.3%. This growth has enabled the company to maintain its fourth-place position, catering to a wide range of consumers with products such as the Galaxy Watch 7 series and the more affordable Galaxy Fit3.
Other companies like Xiaomi and BBK (the parent company of OPPO, OnePlus, and Vivo) have also seen substantial growth, with increases of 26.5% and 25.9%, respectively. These brands have capitalized on the demand for affordable wearables in emerging markets.
While overall shipments have slightly decreased, China has emerged as a key growth driver, contributing significantly to the global wearable market with a 20.1% year-over-year increase in shipments.
The continued rise of Chinese demand has helped offset declines in other regions, such as India and the United States.
With the wearable market continuing to evolve, experts predict that the slight slowdown may present an opportunity for brands to innovate and diversify their offerings in order to capture a broader customer base.
