China has surpassed India to become the world's largest smartwatch market, and despite a decline in global shipments, Chinese brands have performed well.
1. A decline in global smartwatch shipments
Due to the poor performance of market leader Apple, global smartwatch shipments experienced their first-ever negative growth of 7% since records began.
2. A decline in Apple Watch shipments
Last year, Apple Watch shipments fell significantly (-19%) compared to the previous year, and its market share dropped three percentage points from 25% in 2023 to 22% last year.
3. China becomes the largest market
The activity in China's smartwatch market has led to the growth of Chinese smartwatch brands, making China the world's largest smartwatch market, with its market share increasing from 19% to 25% globally.
4. Chinese brands perform well
Huawei's shipments grew by 35%, and Xiaomi successfully entered the top five smartwatch brands for the first time with a record-breaking triple-digit growth rate thanks to the Redmi Watch.
Original article: https://www.toutiao.com/article/1828474846749696/
Disclaimer: The article represents the views of the author alone.