Huawei knocks Apple off the top spot in wearables

Huawei has taken the lead in the global wrist-worn device market, bumping Apple from the top spot. According to the latest Worldwide Wearables Quarterly Tracker by IDC, this shift comes after some impressive growth from the company in recent months. So, what’s behind Huawei’s rise in 2024, and how’s the rest of the market doing? Let’s break it down.

Why Huawei is winning right now

Huawei has been busy this year, rolling out new products like the GT5, GT5 Pro, and WATCH D2. These watches are sleek, functional, and pack some features not seen on other devices.

Beyond its huge market in China, Huawei has been smart about growing its presence worldwide. They’ve made serious strides in places like Asia-Pacific, Latin America, and the Middle East. This mix of innovation and strategy is why they’ve climbed to the top. Huawei’s global market share rose to 16.9% as far as Q1-Q3 2024 shipments, reflecting a massive 44.3% year-over-year growth.

Apple isn’t out, but it’s feeling the pressure

Apple’s market share, on the other hand came in at 16.2%, due to a 12.8% drop in shipments. Now don’t make the mistake of ruling out Apple just yet. The company is still doing well with its smartwatches, especially after launching the Series 10.

Having said that, the competition is heating up. With so many brands offering smartwatches at all price points, Apple will need to work harder to keep its loyal customers. The Apple Watch remains a favorite in the premium smartwatch space and developed markets, but it’s clear that things are evolving. People want more options, and Apple may need to shake things up design-wise to keep things fresh.

What about Xiaomi and Samsung?

Xiaomi’s been having a decent year too, also benefiting from high growth of the Chinese market. Their Band 9 and Band 9 Pro, which came out in recent months, brought upgrades like better battery life and a brighter screen. These devices are affordable, and people seem to like them.

Plus, Xiaomi’s broader success with smartphones and even cars has given their wearable brand some extra credibility. Xiaomi’s market share grew slightly to 14.7%, so its not too far below the market leaders.

Essential reading: Top fitness trackers and health gadgets

Samsung, on the other hand, has been expanding its lineup to cater to all kinds of buyers. They’ve got the Ultra model for high-end users and the FE for those just dipping their toes into smartwatches. The Fit3 wristband also gives them a strong presence in the more affordable segment.

It’s a smart approach, and it seems to be paying off. Samsung’s market share came in at 8.3%, an improvement over their 6.6% share in the same period in 2023.

Where is the wearables market headed?

The wearable market overall has been a bit of a mixed bag this year. Globally, wrist-worn device shipments hit 139 million units in the first three quarters of 2024, which is just slightly down from last year. Saturation in markets like the US and India is part of the reason for this. But China? China’s market is booming. They saw a 20% jump in shipments, making them the biggest contributor to growth this year. This has definitely helped Huawei and Xiaomi capture a larger slice of the pie.

Smartwatches are still the dominant category, but they’re slipping a bit, with shipments dropping 3.8%. Meanwhile, wristbands have seen a resurgence, growing by 12.7%. It looks like people are rediscovering the simplicity and affordability of wristbands, especially in regions where price sensitivity is high.

Like this article? Subscribe to our monthly newsletter and never miss out!