Huawei captures 15% of global wearable market share in Q2 2024

Canalys – the market tracker has published a new report on the Q2 2024 global wearable market in which, Huawei performed amazingly. The tech giant significantly contributed to the worldwide smartwatch shipment in the second quarter of this year.

Huawei has captured 15% of the global wearable market share in Q2 2024, as per the report. It ranked second among the top five smartwatch makers in the world.

The Chinese tech giant received full support for its basic wearables (non-smartwatches) worldwide. It secured around 23% of basic bands, 15% of basic watches, and around 7% of the smartwatch shipment in the global market.

Further details say that Huawei has shipped 6.0 million wearable bands worldwide. This figure grabbed 13.5% of the global smartwatch market share.

For reference, the company shipped 4.3 million units and attained 9.7% last year in the same period. With an increase in the shipment figure, the company’s overall annual growth hiked up to 40% this time. Things will become more favorable in H2 2024.

Apart from Huawei, Xiaomi has also shown outstanding performance in the global wearable franchise. The company accounts for 13% of the market share. Canalys notes that both OEMs are doing quite well in their native regions following effective pricing strategies and premium fitness features to basic watches.

Other Rankers:

Apple obtains first place with 7.7 million unit shipments and 17.4% of the market share. Despite being at the top, the company declined by 5% in its annual progress. Xiaomi at the third spot shipped 5.9 million watches and secured a 13.3% market share.

Samsung is standing in fourth position with 2.8 million shipments and 6.4% space in the market. Noise appears at the fifth with a decline of 32% in the annual growth.

Canalys states that Huawei and Xiaomi have largely contributed to the surge of basic watch shipments in the global market. The overall market for wearable bands shipped around 44.3 million units, an increase of 0.2% in Q2 2024.

Out of this figure, the basic watches account for 48% of the market with the highest share. Canalys expects double-digit growth in smartwatch shipments in H2 2024, driven by various new offerings. As smartwatches return to significant innovation, the competition in the wearable market could intensify in the time ahead.

[Source – Canalys]