Worldwide wearable band shipments fell 4% to 41.7 million units in the first quarter of 2022, according to the latest Canalys estimates. Apple maintained its lead in the wristwatch segment, driven by strong demand for the Watch Series 7.
Apple sold 9.2 million Apple Watches in the first quarter of 2022, giving it 28.9% market share. That’s up 21% from sales of 7.6 million and 27.4% market share in quarter one of 2021.
Following in the top five (with sales and market share for quarter one of 2022) are: Huawei (3.4 million, 10.6%); Samsung (3.5 million, 10.5%); Xiaomi (1.7 million; 5.4%); and Garmin (1.6 million; 5%).
Despite the challenging market conditions, demand for advanced smartwatches is strong, shown by solid performances by Apple, Samsung and Garmin, according to Canalys.
“Rising global inflation is expected to hamper consumer spending on non-essentials. But smartwatches are now tools that many users have grown dependent on to keep them healthy and informed, and it will remain a category with growth potential in 2022,” says Analyst Cynthia Chen.