Wearables

Galaxy Fit 3: Samsung Advances, Apple Fades in Q3 Wearable Watch Growth

Published

1 day ago

11/12/2024

ZDA Desk

Samsung’s wearable device is now narrowing the gap between Apple’s wearable as per the current market cap. The Galaxy Fit 3 is attractive to more people worldwide while Apple getting behind the line due to new products and innovative wearable launches.

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This year’s Galaxy Fit 3 is continuing to grow in popularity worldwide, while Apple’s wearable devices are falling behind. According to Canalys research, Samsung shipped 4.8 million smartwatches in the third quarter of this year, which records a 9.1% market share. This is 900,000 units of extra shipments from last year’s same period.

Galaxy Fit 3: Samsung Maintaining 4th Place

It is maintaining, the 4th Place in total market cap at Apple’s 16.1%, Xiaomi’s 16.1%, and Huawei’s 13.1 Market share with up to 9.1%. It is not only about ht the 4th place, but it is about, how fast Samsung is narrowing the gap.

Looking at the Apple wearable growth, Apple is painting its 1st place shipping more than 8.5 million units at 16.1 market share, but still, it is falling behind last year’s 1.1% market share making a 400,000 units gap.

According to the Canalys Report, due to new innovative features and old models apple’s wearables are falling behind in North America

Brand	Shipments in Q3 2023	Market Share in Q3 2023	Shipments in Q3 2024	Market Share in Q3 2024
Apple	8.9 million units	17.2%	8.5 million units	16.1%
Xiaomi	6.2 million units	12.1%	8.5 million units	16.1%
Huawei	5.1 million units	10.1%	7.1 million units	13.5%
Samsung Electronics	3.9 million units	7.6%	4.8 million units	9.1%
Others (ETC)	27.2 million units	53.1%	23.9 million units	45.2%

Source: ET News

After the huge success of Galaxy Fit 3 on the global market, Samsung is backing up itself in the wearable market. Also stated in the report, as the wearable markets expand day by day, Samsung’s wearables are getting more attraction because of new innovations in wearable devices.

Global shipments of wrist-wearable devices reached 52.9 million units, marking a 3% increase compared to the previous year. This total encompasses traditional watches, fitness bands, and smartwatches.

The traditional watch segment grew by 3%, totaling 23.9 million units, while smartwatches saw a marginal increase of 0.1%, reaching 18.5 million units.

What rank does Samsung hold in the smartwatch wearable market?

Samsung is maintaining the 4th place in the wearable market with up to 9.1% market share while Apple is maintaining its 1st pace at 16.1% market share.

Source & Via: ET News