Huawei ranks third in wrist band market in Q1 2023

Market researcher Canalys has published a report on the global smart band market for the Q1 of 2023 and Huawei has ranked third in the tally.

According to the information, Huawei shipped 3.6 million smart band devices in the Q1 of 2023. The company has achieved 9% of the overall market in the first quarter.

In comparison, the company had 11% of the market share and 4.6 million shipments during the same quarter last year. The change is big and it has appeared with a 23% decline in year-over-year shipments for the tech maker.

Other than that, Apple leads this segment with 8.2 million shipments, a 20 percent market share, and an 11% decline in annual growth. The second spot is gained by Xiaomi with 4.4 million shipments 11% share and 4% positive annual growth.

Samsung comes fourth with 2.7 million shipments, a 7% market share, and a 19% decline in annual progress.

Global shipments:

Global wearable band shipments declined by 1% year-on-year to 41 million units in Q1 2023. The excelling performance of the Indian market, growing 122% year-on-year, offset the 14% annual decline across the globe.

The global basic band shipments continued to shrink, dropping 24% to 7.5 million units, as vendors and consumers continued to shift toward larger screens.

In contrast, the global basic watch shipments boasted a strong 28% growth with 18.0 million units, driven by the surging demand in India. Shipments of smartwatches declined by 11%, to 15.8 million units.

(source)