Huawei ranks first in Q3 2024 Chinese wearable market, beating Apple

Huawei is leading the Chinese wearable market in Q3 2024, beating many of its rivals like Apple. The company has ranked first with a huge shipment of smartwatches in the market. It also holds the highest market share compared to others.

A new report by RUNTO Technology reveals the growth of the Chinese wearable market in Q3 2024. It listed the top five rankers and their progress in this report.

Inputs highlight that Huawei has topped the Chinese wearable market in Q3 2024. The company achieved 30.9% of the market share, 10% more than Apple.

The tech giant sold around 2.083 million units in the first three quarters of this year. The figure has ultimately increased the company’s year-on-year sales revenue by 23.5% and made it sit at the top of the Chinese smartwatch market.

Huawei has unveiled dynamic wearables this year alongside new color variants. Watch GT 5 series is the latest example and comes with the all-new TruSense system.

It is also the first to feature the HarmonyOS 5.0 software and smarter functionalities than its predecessors. These points helped the respective wearable models to grab consumers’ attention and support in the Chinese smartwatch market.

Q3 2024 Chinese wearable market report (Image Credits: MyDrivers)

Other competitors

Apple ranked second with 20.9% of the market share. But it has fallen by 29.4% YoY in online sales. Xiaomi grabbed the third position with a huge annual growth rate of 108.3%. It owns 10.3% of the Chinese wearable market in Q3 2024.

Honor and Vivo appear in the fourth and fifth places respectively. The former holds a 3.2% market share whereas the latter has a 2.2% market share. Vivo has progressed by 207.9% YoY in smartwatch sales in the third quarter of this year.

Note that most of the sales have been made on the traditional e-commerce channels. In Q3 2024, the Chinese wearable market shipped 30.181 million units (an increase of 22.6% YoY) and earned a sales revenue of 17.34 billion yuan (a hike of 2.5% YoY).

The shipment figure is expected to increase up to 43 million units by the end of this year.

Huawei Watch GT 5 Series (Image Credits: Huawei/X)

(source)