Global Smartwatch Sales Up 20% in 1H 2020, Huawei Enters Top 3
In contrast with the global smartphone market, which declined at its fastest-ever rate at around 20% in the first half of 2020, the product's smaller-sized twin – the smartwatch – is steadily going up in terms of sales.
According to research institution Counterpoint, the global smartwatch market realized an encouraging 20% revenue growth during the first half year of 2020, though the unit shipments remained at approximately the same level as last year, with around 42 million. Since the world, during the first half year of 2020, was shrouded in the shadow of the COVID-19 pandemic, the stable volume of smartwatch shipments actually indicates growing market demand.
Globally the market leaders are Apple (AAPL:NASDAQ), Garmin (GRMN:NASDAQ) and Huawei. Among them Apple ranks the first by a landslide, accounting for 51.4% of the global shipment revenue in the first half-year of 2020. The sport wearable maker Garmin follows Apple with 9.4% of the total. The Chinese telecom giant Huawei, which delivered even more smartphones than Samsung in the second quarter of 2020 and topped the global list, is the third in terms of smartwatch revenue with the contribution rate at 8.3%.
Except for Huawei, Chinese vendors such as the BBK electronics and Huami (HMI:NYSE) also performed well. BBK's (the predecessor of smartphone brands OPPO and vivo) smartwatch product for children Imoo and Huami's Amafit accounted for 5.1% and 2.4% of the global revenue, ranking the fifth and sixth, respectively. Notably, Chinese brands like Amazfit and Xiaomi (01810:HK) both delivered pleasant year-on-year growth rates, at 51% and 47% respectively. If the growth stories of Chinese products could continue, Apple's decline from the current 50% level is approaching.