Wearables
Huawei dominates Chinese smartwatch market in Q2 2023, Huawei Watch 4 shows power
Huawei has become a dominating force in the Chinese smartwatch market in Q2 of 2023. What’s more interesting is that the company has generated similar business results among global customers.
CounterpointResearch has published the smartwatch shipment result for Q2 2023 for the Chinese and global markets. Both of these indicate that Huawei has gained a big share to compete in the top sellers.
According to the data, Huawei registered 39% of the overall Chinese smartwatch market in Q2 2023, an increase from 26% market share in Q2 2022. In terms of numbers, the company has achieved 58% YoY growth in the market in its wearable sales and a sharp jump of 13% in share.
The researcher credits the new Huawei Watch 4 and Watch 4 Pro for this new increment in shares. These two smartwatches were unveiled in May in China. Also, it includes innovative non-invasive high blood sugar assessment technology. The smartwatch has a stylish design, which is praised by the consumers.
Other than the Watch 4, Huawei continues to see growth in the Watch GT 3 series. Moreover, Huawei Watch Ultimate is also contributing its fair share of sales in the ultra-premium watch segment.
Meanwhile, Apple has recorded a massive decline of 15% in Q2 2023 in China. However, the researcher mentioned that Watch Series 8 is still the best-selling model in the country.
Global:
Not only in the Chinese market but Counterpoint notes that Huawei saw an increase in share among global smartwatch customers in Q2 2023. The company now has 10% shares in Q2 2023 increasing from 7% in Q2 2022.
“Huawei made big strides by increasing its domestic market share to 39% following a surge of 58% in shipments.” wrote Counterpoint.
This achievement propelled the brand to the second spot in the global smartwatch market share rankings. Another significant change was observed in the premium segment, especially in the >$500 band. Huawei’s products in the >$500 band in China expanded their share in the band to 52% in Q2 2023, a remarkable leap from the brand’s near-absence from the band in the same quarter of 2022.