Key Takeaways
- Huawei Dethrones Apple in Global Smartwatch Market: Huawei emerged as the leader in the wearable device market, overtaking Apple’s dominance.
- Surging Sales in China: Huawei shipped 23.6 million units in the first three quarters of 2024, securing a 16.9% market share compared to Apple’s 16.2%.
- A Resilient Comeback Amid Challenges: Despite US restrictions on imports, Huawei not only bounced back but also surged past Apple in global smartwatch sales.
New Delhi: The global smartwatch market has witnessed a significant shake-up as Chinese tech giant Huawei has unseated Apple as the top player. Known for its dominance in wearable technology, Apple has long been the preferred choice for users worldwide. However, Huawei’s remarkable growth in 2024 has shifted the balance of power in the competitive tech market.
China Leads the Wearable Market Boom
According to a recent report by the International Data Corporation (IDC), China has taken the lead in the global wearable device market. The country shipped an impressive 45.8 million units in 2024, marking a 20% year-on-year growth. At the forefront of this surge is Huawei Technologies, capturing the largest market share.
By the Numbers: Huawei Surpasses Apple
Huawei shipped 23.6 million units in the first three quarters of 2024, achieving a market share of 16.9%. In comparison, Apple shipped 22.5 million units during the same period, holding a slightly lower market share of 16.2%.
The shift becomes even more evident when comparing year-on-year figures. In 2023, Apple shipped 25.8 million units with an 18.4% market share, significantly higher than Huawei’s 16.3 million units and 11.6% market share. Huawei’s rapid rise in 2024, coupled with Apple’s decline, underscores the Chinese company’s growing influence in the wearable tech market.
What Led to Apple’s Decline?
Apple’s shrinking market share can be attributed to intensified competition and the growing appeal of Huawei’s devices. Huawei’s innovative offerings and competitive pricing have resonated strongly with consumers, particularly in China, where the brand enjoys massive popularity.
Resilience Amid U.S. Restrictions
Huawei’s ascent is even more remarkable given the significant challenges it faced, including US-imposed restrictions on importing essential components. These limitations forced the company to innovate and rely on alternative supply chains, showcasing its resilience. Despite these hurdles, Huawei’s ability to surpass Apple is a testament to its strong market strategy and adaptability.
The Road Ahead: Fierce Competition Continues
The rivalry between Apple and Huawei is expected to intensify in the coming years. With Huawei demonstrating its capacity to overcome obstacles and outpace Apple in key markets, the global wearable tech landscape is poised for further disruption. Meanwhile, Apple may look to regain its footing with innovative product launches and strategic market moves.
As the battle for supremacy in wearable tech continues, consumers can expect groundbreaking advancements and competitive pricing from both tech giants. Huawei’s latest triumph signals a significant shift, but whether it can sustain this momentum remains to be seen.
