China's Smartwatch Shipments Decline To Lowest In 3 Years

China’s smartwatch shipments declined 28 per cent YoY and 16 per cent QoQ in the first quarter (Q1) of 2023 to reach their lowest in 12 quarters.

Huawei was followed by Apple which took the second largest share, mainly driven by last year's Apple Watch Series 8. Representative image.

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China's smartwatch shipments declined to the lowest in 12 quarters as the market did not fully recover in the first quarter after the country’s reopening, a new report has said. According to Counterpoint Research’s Global Smartwatch Model Tracker report, China’s smartwatch shipments declined 28 per cent YoY and 16 per cent QoQ in the first quarter (Q1) of 2023 to reach their lowest in 12 quarters. The top three smartwatch brands in China were Huawei, Apple and BBK (imoo).

Huawei And Apple Take Top 2 Spots In China Smartwatch Market In Q1 

The top three smartwatch brands accounted for nearly 60 per cent of the country's smartwatch market in Q1. Huawei dominated China’s smartwatch market with a 27 per cent share, thanks to its strategy of having multiple portfolios. Though the brand’s overall shipments dropped 15 per cent YoY, it ranked first in all price bands from $101-$400. Huawei Watch GT 3 became the second best-selling model in the country in Q1.

Huawei was followed by Apple which took the second largest share, mainly driven by last year's Apple Watch Series 8 and Apple Watch SE 2022. The two models were the first and third best-selling models in Q1. However, Apple’s shipments decreased 27 per cent YoY due to shrinking demand. Focusing on HLOS smartwatches helped the brand take an 87 per cent share in the $400 and above price segment.

HLOS smartwatch is essentially an electronic watch running a high-level OS, such as Watch OS (Apple) or Wear OS (Samsung), with the ability to install third-party apps.

At the third spot was BBK (imoo)’s with generally flat shipments YoY, thanks to the back-to-school season. The brand benefited from its multiple-models strategy. Its Z6A series contributed the most to its shipments.

“Although the Spring Festival can boost consumption generally, the demand for smartwatches was still weak in Q1 2023. This was similar to what we saw in China’s smartphone shipments. The market needs more time to recover," Shenghao Bai, Senior Analyst at Counterpoint Research, said in a statement.