Smart Watch Competition
While Apple’s Apple Watch Series maintains the dominant position in the global smart watch market, other companies, such as Samsung Electronics and Fitbit, are increasing their market shares, challenging Apple’s dominace.
According to global market research firm Strategy Analytics on Nov. 4, smart watch sales worldwide grew 67percent to 10 million units in the third quarter of 2018 compared to six million units a year earlier.
Apple ranked first in the smart watch market. The company shipped 4.5 million units, accounting for 45 percent of the global market. However, Apple’s market share dropped from 60 percent to less than a half in the third quarter as other companies, including Samsung Electronics, grow fast.
By comparison, second and third-placed Fitbit and Samsung Electronics sold 1.5 million units (15 pecent) and 1.1 million units (11 percent), respectively, throuth the third quarter. Samsung Electronics saw its market share increase 1 percentage point from 10 percent to 11 percent and its shipments grew 83 percent from 600,000 units to 1.1 million units compared to a year ago.
Neil Mawston, executive director at Strategy Analytics, said, “Apple faces a strong challenge Fitbit and Samsung Electronics.”
In regard to Samsung Electronics’ Galaxy Watch, he said, “It sells well thanks to its evolved design and aggressive marketing strategy.”