Global smart watch sales jumped 41 percent on year in 2018, with the Apple Watch Series 4 ranking first in sales, Counterpoint Research said in a recent report.
According to the report, Apple accounted for 37 percent of the global market, followed by Imoo with 10 percent and Samsung Electronics with 9 percent. Fitbit, Amazfit and Huawei recorded high growth last year.
Sales of the Apple Watch grew by 22 percent last year, with the Apple Watch Series 4 selling 11.5 million units. Industry watchers say that the Apple Watch Series 4’s health-related functions such as electrocardiogram measurement and fall warning were well-received by consumers.
Recently, smart watches have evolved into independent wearable devices with mobile communication functions. Apple and Imoo products with mobile communications functions accounted for 13 percent and 10 percent of total smart watch sales in 2018, respectively.
"Samsung’s smart watch sales surged 90 percent on year, accounting for 9 percent of the global smart watch market," said Lim Soo-jung, an analyst at Counterpoint Research. "The Samsung Galaxy Watch series launched in the third quarter of last year accounted for 50 percent of Samsung’s total smart watch sales. Consumers responded very positively to its long battery life, rotating bezel that can control the user interface (UI) and typical circular watch design."
Huawei also enjoyed a 125 percent year-on-year increase in its smart watch sales, garnering 2 percent of the smart watch market. Huawei is attracting consumers with its unique operating system and design and strong price competitiveness. Counterpoint predicted that Huawei’s smart watch division would be the only unit among the company’s consumer product divisions to post a sales growth this year. Huawei’s smart watch sales are expected to grow fast in the Chinese and Southeast Asian markets.
By model, the Apple Watch Series 4, 3, and 2 each ranked first, second and fifth in sales last year, while the Fitbit Versa placed third. The Versa provided a turning point to Fitbit, which had struggled in the smart watch market for a long time. The Z3, a kid smart watch brand by Imoo, ranked fourth.