The new model is projected to launch next year

Aug 25, 2022 15:25 GMT  ·  By

Apple Watch continues to be the number one smartwatch in the world, new data from Counterpoint reveals, but the imminent debut of the Series 8 is gradually impacting the sales worldwide.

Apple secured 30.6 percent of the smartwatch world in the second quarter of 2021, but the market share of the Cupertino-based tech giant dropped to 29.3 percent in the same quarter of this year,

Samsung is currently the runner-up with a 9.2 percent market share, followed by Huawei with 6.8 percent – a major drop from a 9 percent share in the second quarter of 2021.

“Apple’s shipments increased 8% YoY, taking the top spot in this quarter as well. However, as the effect of the new model launch gradually weakened, the decline in Apple Watch 7 series shipments became larger compared to the previous quarter. Samsung maintained its second place with a 40% YoY growth. The Galaxy Watch 4 series has maintained its popularity, especially in North America and India,” Counterpoint says.

Garmin is a money-making machine

“Huawei took the first position in the Chinese market for the third consecutive quarter. But the brand will find it difficult to regain the second position from Samsung globally due to the brakes on its global expansion. Xiaomi’s shipments increased 13% YoY with no significant change in its market share. The brand needs to increase its presence in India to further expand its market share, but competition will not be easy due to strong local brands.”

Despite the debut of new smartwatches, including the Fenix 7 series and the Epix 2, Garmin actually fell two places, becoming the seventh company in the charts. Counterpoint says an increase in the ASP allowed Garmin to become the third company in revenues after leader Apple and runner-up Samsung, as its devices are selling for a premium right now.