The Galaxy Watch 4 boosts Samsung's global smartwatch market share 

The smartwatch market is more crowded than ever with newer premium models launching almost every other month. Samsung, to name a brand, just came out with its Galaxy Watch 5 series of devices. But it turns out, in a bit of surprise, that the Galaxy Watch 4's popularity has had an impressive carry-over effect. Even more astonishing, the Korean manufacturer made its gains in a growing overall market for smartwatches.

Samsung grew its share of global smartwatch shipments from 7.4% to 9.2% between Q2 2021 and Q2 2022. Apple, on the other hand, dropped from 30.6% to 29.3% during the same period. These findings are part of the Global Smartwatch Model Tracker published by Counterpoint Research.

Global shipments for the second quarter were up 13% from the same time last year with the phenomenon most prominent in India, where the segment has been supercharged with the arrival of low-cost smartwatches that cost a fraction of their more expensive alternatives — including the Galaxy Watch 4 series, which was quite popular in North America — helping to blow up retail channel movements by 347%. In the course of a year, India has grown its share of smartwatch shipments from 6% to 22% of the pie, surpassing China by one percentage point to claim the second spot. North America still leads the pack, although shipments shrunk by 4% year over year.

Sujeong Lim, Associate Director at Counterpoint, said that the smartwatch market held its own despite previous predictions of a downturn. She added that 30% of the models shipped in India during Q2 2022 sold for under USD50, resulting in the widespread adoption of smartwatches in the region. The key drivers for India were regional brands like Fire-Boltt and Noise, with the latter growing by 298% from last year.

Huawei, which held the second spot in smartwatch shipments just a year ago, has been shoved to third place. However, the brand continued to dominate the Chinese smartwatch market for a third consecutive quarter. Amazfit's shipments fell by 11% in China, though the company did fairly well in India, growing by 65% from the first quarter. Xiaomi's global smartwatch market share dropped marginally in Q2 2022.

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