More watches for less money
stratospheric rises (located). The summer quarter ends with a significant rise of 30% compared to the previous year, but it is a trick reading. And it is that the joy goes by neighborhoods: it is in India where this increase is truly spectacular, with 171% compared to 2021, thus becoming the largest market in the world. There are other markets on the rise, but they are neither in Europe nor in China, where the share actually drops to 6% compared to the same period last year.
Smartwatch shipment by region during Q3 2022 vs 2021 | Source: Counterpoint.
Some more context to the data. According to analyst Woojin Son, the fault of this beastly rise is due to cheap and basic watches, which have increased by 35%. On the flip side, smartwatches listed as HLOS (high level operating systems) by Counterpoint, were up 23%.
This translates into that the market is growing rapidly for the most accessible segment. Another thing is the income, where the HLOS smart watches multiply by 10 the income of the cheap ones because of their unit sale price.
The leader is already an old acquaintance (renewed)
In the third quarter there is an unmissable event in the consumer technology sector: Apple’s Keynote, which in the smartwatch sector hit triple with the Apple Watch Series 8, Apple Watch SE (2022) and Apple Watch Ultra. And here there have been no surprises: the leader renews leadership again. Apple’s global shipments increased by 48%: of shipments of mid-range watches – high, more than half are from the bitten apple.
Samsung grows but does not hold the pull. Its biggest rival for market share within its segment has also risen, but in a notably more modest way: the accumulation of sales of the “veteran” Galaxy Watch 4 and the Samsung Galaxy Watch5 and Watch5 Pro achieves 6% more than in 2021 Of course, compared to the previous quarter the rise is 62%, but it makes all the logic in the world, given that the renewal of their watches occurred in August. And be careful because in the Indian market it has even dropped by 3%.
Shipment share by smartwatch brands for Q3 2022 | Source: Counterpoint
The hatching and rise of cheap watchesLike the Nike ad in which a very young Messi urges us to keep his nameI invite you to memorize the third best-selling smartwatch brand on the planet according to Counterpoint: Noise, which is also the absolute leader in said Asian country. And be careful, because if Samsung continues to slow down and Noise grows, it threatens silver.
Nowadays, Apple takes a little more than half of the pie within the HLOS market with 50.6%, followed quite far behind by Samsung and its 22.3% market share. In both cases, they are below previous periods.
Same sales but more money for Garmin. Another North American brand that leaves interesting curiosities in this market study is Garmin: the shipments of the brand specialized in sports did not increase compared to last year, but taking into account that their prices did (its average price is 365 dollars). , their revenue increased by 11%.
Via | Counterpoint