In the second quarter of 2024, 43.7 million wrist wearable products, including smart bands and smartwatches, were shipped globally. Huawei led the market in both shipments and market share. According to the latest data from IDC, Huawei experienced impressive growth and shipped 8.9 million units globally, up 42% year-on-year. This gave the company a 20.3% share of the global market.
Q2 Wearable Devices Market: Huawei Takes Top Spot
China has played a major role in Huawei’s success, with 6 million wrist wearables shipped domestically, taking Huawei’s market share in China to 38.4%. Despite Huawei’s growth, the global market for wearables saw a slight decline, with shipments down 0.7% compared to the same period last year.
Much of Huawei's success has been driven by high demand for its smartbands and smartwatches, particularly the Watch Fit 3, which has become a major seller worldwide. Huawei has also increased its market share in regions such as Central and Eastern Europe, the Middle East, Africa, and Latin America.
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Xiaomi took the second spot globally with 5.9 million shipments and 13.5% market share. Xiaomi’s budget-friendly Redmi series drove most of this growth, while its higher-end models like the Watch S3 and Watch 2 also performed well.
Apple came in third with 5.7 million shipments and 13.1% market share. However, Apple saw shipments drop 12% YoY due to increased competition from Huawei and Xiaomi, which offered more affordable alternatives.
Samsung shipped 3.3 million wearable devices during the period, with the Galaxy Fit 3 serving as the main growth driver. Despite the competition, Samsung maintained a solid position in the market.
BBK, which owns brands like Oppo and Vivo, rounded out the top five with 2.9 million shipments and 6.6% market share. BBK has seen strong demand for its smartwatch models for kids in China.
In summary, Huawei’s strong performance, supported by demand in China and the popularity of its latest products, has enabled it to dominate the global wearables market in Q2 2024. Meanwhile, competitors such as Xiaomi, Apple, Samsung, and BBK continued to play important roles in the rapidly developing market.