The global smartwatch market rebounded with a 9% year-over-year (YoY) rise in the third quarter (Q3) 2023 shipments, continuing the upward trend from the previous quarter, according to new data from Counterpoint Research.
Growth was propelled by strong performances in the Indian market. Outside India, the rise in high-specification HLOS smartwatches, driven by new Apple, Huawei, and Samsung releases, dominated the market, notes the research group.
According to Counterpoint, Apple delivered its best-ever Q3 performance, with a 7% YoY increase in shipments. This achievement is particularly noteworthy given that the latest Apple Watch, a key product in their lineup, was released slightly later than the previous year, notes the research group.. The strong shipments of the 2nd-generation SE model significantly contributed to the growth of the industry leader.
The Apple Watch now has 45% of the global smartwatch market.