khaskhabar.com : Friday, December 01, 2023 5:51 PM
New Delhi. Global smartwatch shipments grew by 9 percent (year-over-year) in Q3 2023.
According to Counterpoint Research, the primary drivers of this growth were the continued strong performance of the Indian market led by Fire-Bolt as well as Huawei’s notable comeback in China.
“Amid the global economic downturn, most consumer device markets such as smartphones are still experiencing stability compared to a year ago,” said research analyst Woojin Son. “In contrast, the smartwatch market has recorded two consecutive quarters of year-on-year growth in both the premium and budget segments.”
“High-level operating system (HLOS) smartwatches powered by Huawei increased significantly in Q3 2023 as the company posted its highest-ever performance,” he said.
According to the report, Apple delivered its best performance ever with 7 percent (year-on-year) growth in shipments.
Huawei reported an impressive growth of 56 percent (year-on-year) in total shipments for the quarter, with HLOS smartwatches seeing a notable growth of 122 percent.
Fire-Bolt regained its leadership position in India after recording its all-time highest quarterly shipments.
All three major Indian brands Firebolt, Noise and Boat are growing at a slower pace than before. However, this is being seen as a sign of stability rather than slowdown, the report said.
“Meanwhile, the Indian market, which has been a strong leader in the basic smartwatch segment, maintained strong growth in the quarter. The country contributed 35 percent of total global shipments and achieved global market leadership for the third consecutive quarter.”
Samsung experienced a 19 percent (year-over-year) decline in shipments. However, the report states that new products released in August saw a decline of only 3 percent compared to previous products.
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Web Title-Global smartwatch shipments grew 9 percent in the third quarter, excellent performance by Fire Bolt and Huawei