SEOUL, Aug 21 — Samsung Electronics Co dropped to the fourth spot in the global smartwatch market in the first half of the year, reports Yonhap news agency citing a report showed Friday, while its competitors expanded their presences in the fast-growing market.
In terms of revenue, Samsung took 7.2 per cent market share in the first six months of the year, down 2.1 percentage points from a year earlier when it was the world’s second-largest smartphone vendor, according to industry tracker Counterpoint Research.
“Samsung faced some headwinds during the first half, but the launch of Galaxy Watch 3 in the second half could drum up some demand for the Korean vendor,” Counterpoint Research said.
Apple Inc expanded its dominance with 51.4 per cent market share in the first half of the year, up 8.2 percentage points from a year ago.
US-based Garmin Ltd moved up one spot to rank second with 9.4 per cent market share, up 0.5 percentage point from a year ago. Chinese tech titan Huawei Technologies Co also advanced one spot, to come in third place with 8.3 per cent market share, up 2.8 percentage points from a year earlier.
The global smartwatch market saw 20 per cent revenue growth in the first half of the year despite the pandemic, with shipments reaching nearly 42 million units, Counterpoint Research said.
The Apple Watch Series 5 was the best-selling smartwatch model in the first six months, followed by the Apple Watch Series 3 and the Huawei Watch GT2. Samsung’s Galaxy Watch Active 2 was fourth on the best-selling rankings, according to Counterpoint Research.