Huawei-Leads

China Drives Global Wearable Growth as Huawei, Xiaomi, and Samsung Surge

 

Chinese smartphone giant, Huawei has emerged as the leader in the global wrist worn device market during the first three quarters of 2024, according to International Data (ID) Corporation. During this period, the Chinese tech giant managed to grow sustainably by 44.3% year on year, surpassing Apple, which used to have a large share in the segment for several years. Huawei’s success was driven by the strong sales of the Huawei GT5, GT5 Pro and the Watch D2 which comes with a second generation blood pressure monitor.

 

Apple Briefly Regains Lead in Q3

 

The Apple Watch Series 10 helped Apple reclaim the top spot in the third quarter of 2024, however, this temporary rise did not prevent Huawei from outpacing Apple across the wrist-worn device category. An innovation is necessary for the company to remain competitive, say the analysts, especially in the broad wrist-worn market, while Apple retained its dominance in the global smartwatch segment.

 

Xiaomi and Samsung See Big Growth

 

The launch of the Xiaomi Band 9 and Xiaomi Watch S series drove Xiaomi to a safe third place in the market with 26.5% year-on-year growth. This allowed the company to get off the ground in the premium space. The Samsung Galaxy Fit 3 and Galaxy Watch FE helped Samsung notch up a 24.3% growth as it followed closely with its seventh-generation wrist-worn devices.

 

Global Market Growth Led by China

 

In 2024, China became the biggest market by volume for wrist-worn devices, shipping 45.8 million units at 20.1% year-on-year growth. However, sales in India and the US declined from last year, it is a regional difference in demand of the consumer.

 

BBK Electronics Market Expansion

 

Another Chinese company, BBK Electronics, took the fifth spot in the global rankings. The company, known for its focus on smartwatches for kids, has been moving forward with markets in China and farther beyond.

 

Wrist-worn device market outlook

 

The competitive nature of the wearable tech industry is on display in the wake of Huawei’s rise. A shift in consumer preference towards feature-rich but more affordable devices is evidenced by the company’s ability to innovate and take market share in regions like Asia Pacific, Latin America, the Middle East, and Africa. Meanwhile, others such as competitors Apple, Xiaomi, and Samsung will need to refine their strategies to stay or increase their presence, in this rapidly changing sector.