Huawei tops Q2 2024 global wearable market, beating Apple and Samsung

Huawei is giving a tough fight to Samsung and Apple in the global wearable market for Q2 2024. A recent analysis shows that Chinese tech vendors are now performing quite well in the wearable sector surpassing many of the foreign competitors.

IDC research organization has released the global wearable market report for Q2 2024. This time, the worldwide market sold 43.7 million units which is 0.7% less than the last year same period. Despite a decline, smartwatch vendors achieved progress.

Starting with Huawei, the company topped the Q2 2024 global wearable market by beating Apple and Samsung. The OEM sold 8.9 million units this time and captured 20.3% of the market share. Last year, the figure was 6.3 million units and 14.2% share.

The research firm states that Huawei obtained significant growth for H1 2024 in the worldwide wearable market. The Chinese tech giant’s wearable shipment has increased by 55.1% YoY in the second quarter, resulting in a 42.1% YoY growth rate.

Huawei has been leading the global watch sector for two consecutive quarters. It has firmed its legs in the Middle East, Africa, Latin America, and Central and Eastern Europe.

Q2 2024 global wearable market report (Image Credits: IDC)

This win has become possible due to the immense demand for the Watch Fit 3 worldwide. The incredible wearable not only contributed to the company’s growth but also increased the global smartwatch shipment. Meanwhile, Huawei has been ruling the Chinese wearable market since 2021 and will likely continue in the future.

Other rankers in the list are Xiaomi, Apple, Samsung, and BBK. Xiaomi is in the second spot with a growth of 17.5% YoY. It shipped 5.9 million units and obtained a 13.5% market share. Apple again fell to 11.8% YoY growth with a market share of 13.1%.

Samsung ranked fourth with a shipment of 3.3 million and a 7.6% market share. BBK – the kid’s watchmaker is doing well in China and has seen good growth in the first half of this year. The company may further expand its sales with innovative products.

This quarter, the global wearable market obtained:

• 3.2% YoY decrease in smartwatch shipment (34.7 million units)
• 10.6% YoY increase in wristband shipment (9.0 million units)

China, on the other hand, obtained an increase of 18.7% YoY in smartwatches and a decrease of 4.8% in wristbands. Even in the Chinese market, Huawei is in the first position with 6.0 million unit shipments and 38.4% of the market share.

The company is now ready to unveil more new wearables on September 19 which will dynamically increase the company’s value in both the global and Chinese market, later this year.

Q2 2024 Chinese wearable market report (Image Credits: IDC)

[Source – IDC]