As global smartwatch shipments increased 6 percent in third quarter of 2020 compared to the same period last year, Apple remained the leader with 28 percent share while Samsung took the third position, overtaking BBK (Imoo brand), a new report said on Wednesday.
The top five brands contributed more than 66 percent of the total shipments in Q3 2020 while China surpassed North America to become the market leader after seven quarters, according to the 'Global Smartwatch Model Tracker' by Counterpoint Research.
Apple launched its first mid-tier smartwatch, the Apple Watch SE, during the quarter. Apple Watch SE (GPS) starts at Rs 29,900 while Apple Watch SE (GPS+ Cellular) begins from Rs 33,900 in India.
Huawei managed to maintain its second position with 15 percent share, thanks to the good performance of its newly launched models, especially the ones for children.
With the successful launch of the Galaxy Watch 3, Samsung took the third position with 10 percent market share.
"In terms of sales, Apple's position is even stronger. In the third quarter, it achieved $2.3 billion, nearly half of global smartwatch shipments and an 18 per cent increase over the same period last year," said senior analyst Sujeong Lim.
Samsung rebounded in the third quarter with the launch of the Galaxy Watch 3.
"In terms of revenues, Samsung grew 59 percent (on-year) and is expecting good growth momentum now," Lim added.
China, where the share of children smartwatches exceeded 70 percent in the past, is now witnessing a growth momentum in the 'normal' smartwatch category.
"In India, local brand Noise is growing rapidly while Realme launched the Watch in the third quarter. The country's smartwatch market seems to have reached its first period of growth, thanks to the active expansion of brands," Lim informed.
The India smartwatch market is expected to grow from the end of next year after recovering from COVID-19, the report noted.