According to Counterpoint’s latest report, China’s smartwatch market shipments increased by 5% year-on-year as holiday travel and 618 boosted consumer demand for smartwatches in the second quarter, and the domestic smartwatch market is ushering in a recovery.
From a brand perspective, Huawei, which ranks first, has a year-on-year growth of 58% and a market share of 39%. Mainly because the newly launched Huawei Watch 4 and Watch 4 Pro series models have been welcomed by consumers, and the sales of older products such as the Huawei Watch GT3 series are relatively good. The newly launched Huawei Watch Ultimate also represents Huawei’s performance in the ultra-high-end field. Made a contribution.
From the price perspective, the price structure in the second quarter has changed significantly compared with the same period last year. Market share below $50 dropped significantly. In fact, share in this price range has continued to decline year-over-year over the past few quarters. At the same time, the price segment above $500 performed better, with its share rising to 11%. In the same period last year, the share of this price segment was almost negligible.
In this regard, Counterpoint believes that entry-level products with only simple functions are no longer as popular with consumers as they used to be. More and more consumers are being attracted to smarter models with more precise health monitoring, more exercise tracking and coaching features. Share of the high-end market has been growing since the release of Apple Watch Ultra last year. Promotional activities during the 618 E-commerce Festival also contributed to the growth of this price segment.