Rebound in the smartwatch market after six months of decline

Between April and June 2023, the global connected watch market experienced a surge, after two quarters of decline.

According to the latest estimates from Counterpoint Research, the distribution of smartwatches worldwide in the second quarter of 2023 increased by 11% compared to the same period last year, while the previous two quarters were on the opposite slope.

Apple in decline but still archi-leader

Still the leader in this sector, Apple however experienced a 10% drop in its distribution over the same period of time, for a market share falling from 27 to 22%. And for the first time in two years, Huawei is back in second position, thanks in particular to growth of 58% year on year on Chinese territory.

A word to Woojin Son from Counterpoint Research

“Huawei recorded impressive growth in the second quarter of 2023, ranking second in quarterly distribution for the first time in two years,” says Woojin Son of Counterpoint. The leading Chinese brand's growth had stagnated for some time due to technology sanctions and a slowdown in its domestic market. Although the Chinese market's recovery remained tepid, Huawei aggressively launched new flagship products such as the Watch 4 series to the market in the second quarter, achieving its highest quarterly distribution levels since 2020. Huawei appears determined to bounce back on the market. It remains to be seen whether this dynamic can be effectively extended to other sectors, such as smartphones.”