In a significant shift within the wearable tech market, Apple has been dethroned from its long-held top position in global wrist-worn device shipments by Huawei. The Chinese tech giant has surged ahead, capitalizing on growing demand for affordable wearables, particularly in the fitness tracker segment.
According to data from the International Data Corporation (IDC), global shipments of wrist-worn devices, which include fitness bands and smartwatches, reached 139 million units in the first three quarters of 2024. This figure marks a slight decline of 1% compared to last year. Despite the overall dip, Huawei posted an impressive 44.3% growth, shipping 23.6 million units, securing its place as the new market leader.
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The wearable market has seen varied performance across its segments. While smartwatch shipments have declined by 3.8%, totaling 112.2 million units, fitness trackers have seen a resurgence, growing by 12.7% to 26.8 million units. This shift has favored brands like Huawei, which offer a broad range of wearable products catering to different price points.
Apple remains a dominant force in the smartwatch segment, particularly in premium markets with its popular Apple Watch Series 10. However, its lack of presence in the lower-cost fitness band market has affected its overall standing. Apple’s focus on high-end devices limits its reach in emerging markets, where budget-friendly options are driving demand.
Other key players in the market, such as Samsung, Xiaomi, and BBK (the parent company of OPPO, OnePlus, and Vivo), have also experienced strong growth. Samsung’s diverse approach, offering both premium and affordable products like the Galaxy Watch 7 series and Galaxy Fit3, has led to a 24.3% rise in shipments. Xiaomi and BBK followed closely with increases of 26.5% and 25.9%, respectively, taking advantage of the demand for budget-friendly wearables.
China has emerged as a key driver in the global wearable market, with a year-over-year shipment increase of 20.1%. This surge in Chinese demand has helped offset declines in other regions, such as India and the United States. As the wearable tech market continues to evolve, experts suggest that this slight slowdown in overall growth could prompt further innovation, pushing brands to diversify their offerings and capture a broader range of consumers.
