Once the unrivaled champion in the global smartwatch market, Apple has experienced a surprising shift in its standing. Despite holding a commanding lead with sales 58.2% higher than its nearest competitor in the third quarter of 2023, Apple’s reign has been usurped by a powerful contender from China.
Recent data from the International Data Corporation (IDC) reveals a marked decline in Apple’s smartwatch sales, plunging by 12.8% to 22.5 million units in the third quarter of 2024. This downturn comes amidst a thriving wearable market, which saw total sales of 139 million units—a mere 1% drop from last year.
In stark contrast, Huawei has surged ahead, capturing the top spot with an impressive 44.3% sales increase, reaching 23.6 million units. Innovative releases like the Huawei Watch D2, featuring medically certified blood pressure monitoring, have significantly bolstered their market presence. Aided by China’s role as the largest wearables market globally, with 45.8 million units sold, Huawei’s ascent seems well-founded.
Xiaomi holds third place with 20.5 million sales, boasting a 14.7% market share, fueled by the success of products like the Xiaomi Smart Band 9 and the higher-end Xiaomi Watch S4. Meanwhile, Samsung has recorded a growth of 24.3%, with sales reaching 11.5 million units and an 8.3% market share. This growth is attributed to its diverse product lineup, spanning from the Galaxy Fit3 to the Galaxy Watch Ultra.
Despite Apple’s decline in smartwatch sales, excluding smart wristbands, it barely retains a lead. As the landscape continues to evolve, it remains to be seen how Apple will respond to mounting competition and regain its former market dominance in the dynamic world of wearable technology.
