Global smartwatch shipments have increased 6% in Q3 2020 compared to the same time last year, as per a report by Counterpoint Research. Apple Watch dominated the market by remaining the leader and also increasing its market share by 2 percentage points in Q32020 vs. Q32019.
The Cupertino tech giant released its first mid-tier smartwatch, Apple Watch SE during the quarter. It was priced at just $279, and received tons of attention from the market. The high-end Apple Watch Series 6 was also launched alongside, for a starting price of $399.
Apple Watch dominates the smartwatch market in the third quarter of 2020
As of now, Apple holds a 28% share in the smartwatch market, up from 26% in the same time period last year. Moreover, the company’s position is even stronger when it comes to sales reaching $2.3 billion in the quarter. Senior Analyst Sujeong Lim said:
“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% increase over the same period last year. Samsung had stagnated in H1 2020. Since it appeals to fewer premium consumers compared to Apple, demand from its base was weaker during the pandemic. But it rebounded in the third quarter with the launch of the Galaxy Watch 3. In terms of revenues, Samsung grew 59% YoY and is expecting good growth momentum now.”
In somewhat related news, North America has been surpassed by China when it comes to shipments to become the market leader. China pulled ahead this quarter, even though the North American market had been growing steadily since the release of the Apple Watch Series 4.
The North American market, which showed a significant growth with the release of the Apple Watch Series 4, had continued to dominate since Q4 2018, but China managed to edge ahead in Q3 2020. China, where the share of children smartwatches exceeded 70% in the past, is now witnessing a growth momentum in the ‘normal’ smartwatch category.
You can read the full report from Counterpoint Research here.