The demand for wearables, including smartwatches, earphones and more, continues to grow even when other segments are seeing a decline due to inflation. According to a recent report by Counterpoint, the wearables segment witnessed a growth of 13 percent between January and March 2022, i.e. in the first quarter of 2022.
Apple, samsung And Xiaomi Shipments registered an increase in the first quarter of 2022. according to the report, Apple It retained its first position with a market share of 36.1 percent, which saw a year-on-year growth of 14 percent. The report also suggests that the late arrival of the Watch Series 7 helped the Cupertino giant to continue its lead. Sujong Lim says that brand loyalty is one of the main reasons for the company’s continued success apple watch, He believes that Apple’s market share is expected to increase by the end of the year.
Samsung, which reported a 46 percent year-on-year growth in smartwatch shipments, took second place again this year. Counterpoint states that the popularity of the Galaxy Watch 4 series in the Asia Pacific region helped Samsung consolidate its position in the market. During this, Huawei It again dropped to third place, but its global market share is on a downward trend due to GSM restrictions.
Xiaomi, which has been breaking records every quarter, reported a 69 percent year-on-year growth in shipments in the first quarter of 2022, taking the fourth spot.
The premium segment was won by Garmin, which ranked fifth in terms of shipments but third in terms of revenue in the first quarter of 2022.
Amazfit secured the fifth position in the quarter with a market share of 4 per cent. As per the report, the brand was able to maintain its position due to the GTR 3 and GTS 3 series smartwatches launched in Q4 2021. The brand is trying to expand its presence outside the Chinese market, and the report states that it has found some success in Europe.
During this, Fitbit, which has been missing from the scene for a long time, saw a steep decline as, since its acquisition, it has not announced any new products. And even there is no word about the transition to WearOS.
Most regions, including North America, China and the rest of the world, recorded an increase in smartwatch shipments in the first quarter of 2022 compared to the same period last year. However, growth in Europe has remained flat, possibly due to a lack of logistics due to the ongoing war in Ukraine. The issue will become more serious in the second quarter of 2022, the report said.