Market research firm Canalys recently released its research data containing the quarterly report of the wearable wristband market in China for the third quarter of the current year. The report shows that embattled Chinese tech giant Huawei continues to dominate the domestic market despite losing ground overseas. The tech giant controlled a market share of 24% to lead the pack. However, Huawei’s market share is shown to represent a 27% drop in its YoY performance.
Xiaomi has been a strong player in the smart wearable market since the launch of the extremely popular Mi Band models, especially the revolutionary Band 2. Xiaomi trailed Huawei closely with a 22% share of the market which is a positive 6% growth YoY.
In third place is a new entrant known as XTC which cornered a 10% share of the market while US tech giant and global wearable market leader Apple came in at fourth place with a 9% share of the market. Interestingly, Apple’s market share represents a massive 53% surge in its sales compared to last year. This huge growth may be due to the release of new products this quarter.
Finally, OPPO completes the top 5 ranking with a 4% market share, representing a 12% annual growth.
Canalys also released a ranking of the global wearable wristband market showing that a total of 49 million smart wearables were shipped globally in Q3 2022. This represents a year-on-year increase of 3.4%. The report showed a consistent pattern of growth of smartwatches and a decline in smart band sales.
Apple leads the global wearable market with a 20% market share followed by Samsung, Xiaomi, Indian manufacturer Noise, and Huawei. It is impressive to see Huawei make the cut in the global market considering the US government’s sanctions against the company.
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