Huawei ranked first in Q4 2023 Chinese wearable market: Canalys

Huawei came first in the Q4 2023 Chinese wearable market race with an annual growth rate of 30%. The tech giant has once again obtained good enough scores in the smartwatch franchise for highly innovative and feature-rich wrist gadgets.

Canalys research organization has recently shared the figures of the Q4 2023 global and Chinese wearable market where Huawei has secured amazing grades. The company is gradually touching new heights in every field, marking new milestones.

Huawei has procured 33% of the Chinese smartwatch market share. The second position is grabbed by Xiaomi with a growth rate of 16%. Third is XTC, while Apple and Honor have bumped into fourth and fifth place respectively.

Apple is seeing a decline of 32% with a 6 percent of market share in the native region. Similarly, Honor lags by 25% and received only 3% of the market share.

Chinese wearable market Q4 2023 (Source: Canalys)

In addition to China’s smartwatch report, Canalys dropped the global wearable market structure where Huawei has reached third position with a 31 percent annual growth rate. This is the third highest ranking in the annual growth segment after Fire Boltt and Xiaomi at 52% and 45% respectively.

Huawei Watch GT 4 has significantly contributed to the company’s new achievement. Adding more, Google secured the fourth position in this listing with a 7% market share.

Even though Apple is at the top in the global smartwatch race with 21% of the market share, it lags in annual growth rate with 25%. Canalys also mentioned that the worldwide smartwatch market has fallen by 3% YoY in the fourth quarter of 2024.

A root cause behind this drop is the weak demand for wrist gadgets in North America and Western Europe. Yet, Huawei has gained effective points in both the Chinese and global smartwatch market.

Worldwide wearable market Q4 2023 (Source: Canalys)

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