The latest data from Strategy Analytics points to global smartwatch shipments growing by a massive 42% in Q3 2019 to reach 14 million units. The surge in sales was led by Apple Watch which dominated the market and accounted for 48% of the total smartwatch shipments.
In Q2 2019, 10 million smartwatches were shipped worldwide which increased to 14.2 million in Q3 2019. Apple shipped 6.8 million units of the Apple Watch in this timeframe, up from 4.5 million units it sold during the same quarter in 2018. Despite heavy competition from Samsung and Fitbit, Apple has managed to grow its market share in the smartwatch segment from 45% in 2018 to 48% in 2019.
Apple’s stellar performance in the smartwatch market can be attributed to the Apple Watch Series 4 and Series 5. The price drop on the Apple Watch Series 3 towards the end of the quarter would have also likely played a key role in the boost in sales. With the holiday season coming up, Apple Watch sales are only going to breach new records.
Samsung came in second and shipped 1.9 million smartwatches in Q3. The company had shipped 1.1 million smartwatches in Q3 2018. The surge in sales has led to Samsung’s market share increasing from 11% to 13% in a year. Fitbit came in a close third behind Samsung and shipped 1.6 million smartwatches, up from 1.5 million units it shipped in the year-ago quarter.
Despite the modest increase in shipments, Fitbit saw its market share decline by 4% to 11% in a year. The company has been struggling to perform in the wearables market despite being one of the oldest companies on the block. It has been unable to compete with Samsung and Apple with its smartwatches that have focused more on fitness tracking. With Google now acquiring Fitbit, it will be interesting to see what happens to the company and its products in the future.[Via Strategy Analytics]