Wearables Shipments Q2.2022
Canalsys market data looks at the number of units shipped. So these are ex-factory shipments rather than consumer purchases. This data can be more reliable unless the products fail to sell when, of course, retailer inventory will build up.
Anyway. Over to the stats and there are a few interesting events to highlight
Firstly Samsung has grown by 58%, presumably on the back of Watch4 orders from the watch released last year. Note that Q2 shipments probably won’t take into account the Watch5 model which wasn’t even announced until August (Q3). But this looks promising for the company who are able to leverage wearable sales on the back of same-brand smartphone sales….unlike the sports watch companies (Garmin et al)
Secondly, Apple tops the table (yawn) with a market share up 6% percentage points to 31%. This is surprising to some degree as Watch 7 was nothing special. With a better iPhone and seemingly better watches this year perhaps Apple will produce even better results in the months to come?
Thirdly Garmin declines by 6% which is not great news. Garmin lovers will point out that in value terms Garmin will rank higher as their average unit prices are much higher. Putting that to one side, the stats are surprising when we consider the sheer number of new models that Garmin has been cranking out this year and that even cynical old me says they’re good!
Canalsys also says that India increased shipments and hit 15% of the market, placing the company 3rd behind China and China, 9 out of 10 of these shipments were low-value items though. Either way, it interestingly shows the potential rise of India as a player in the global wearables market and at the low end of the price range India is the world’s 3rd largest producer. Despite India’s closer ties to Russia, it’s perhaps a safer geopolitical bet than other parts of Asia for companies looking to locate new production – as I outlined yesterday.
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