Samsung slips to third place in global smartwatch market

According to Hong Kong research firm Counterpoint Research, global smartwatch shipments fell by 1.5% year-on-year from January to March this year. This is the second consecutive period of decline. It is believed that this was due to the seasonal decline in demand for products by major manufacturers such as Apple in the United States and Samsung Electronics in South Korea, as well as a decline in consumer sentiment due to the global economic slowdown.

Apple's shipments fell below 10 million units, the lowest in three years.

Samsung Electronics has maintained its second-largest market share, but fell to third place in the January-March quarter of this year. Shipments increased by 15% in North America, the main market, but declined in many other regions.

India's Firebolt took over from Samsung Electronics in second place. Shipments have tripled compared to the same period last year. This is due to the rapid growth of the local market.

According to Counterpoint Research, "Approximately 40% of smartwatch shipments in India are priced at around 2,000 rupees. We are meeting the needs of our customers."

The share of luxury smartwatches, which are mainly sold by Apple and Samsung Electronics, fell from 60% in the first quarter of last year to 53% this year. On the other hand, the market share of general smartwatches has grown from 23% to 34% due to the rapid growth of the Indian market.