Apple Watch is still the best-selling smartwatch, though its market share has dipped a bit

Global smartwatch shipments increased 11% year-over-year (YoY) in quarter two (Q2) of 2023 after declining in both Q4 2022 and Q1 2023, according to Counterpoint Research. And the Apple Watch continues to dominate the market, though its market share has slipped a bit.

Apple saw a 10% YoY decline in its Q2 2023 shipments. This decline pushed its shipments to below 8 million units for the first time in three years. Consequently, Apple’s market share fell to 22% from 27% in Q2 2022.

In terms of regional shipment shares, India’s market stood at 34%, a 12% points surge compared to the year-ago period, according to Counterpoint. The Chinese market’s share declined due to the swift expansion of India’s market. However, China’s shipments grew 5% from Q2 2022. 

In North America, there was an 9% YoY reduction in shipments in Q2 2023. However, the revenue saw a rise of around 3% due to the sustained popularity of high-end premium products. Nevertheless, North America’s share in global smartwatch revenues declined, compared to both Q2 2022 and Q2 2021.