Global smartwatch shipments grow to 9% in Q3

According to Counterpoint Research, the global smartwatch shipments increased 9 per cent (year-on-year) in the third quarter (Q3) of 2023. “Amid a global economic slowdown, most consumer device markets like smartphones are still experiencing stagnation compared to a year ago. In contrast, the smartwatch market has recorded year-on-year growth for two consecutive quarters in both premium and budget segments,” said Research Analyst Woojin Son.

“Notably, High-level Operating System (HLOS) smartwatches, typically featuring higher specification and price, have grown largely driven by Huawei in Q3 2023 as the company posted its highest quarterly performance ever,” he added.

Huawei recorded an impressive 56 per cent (year-on-year) increase in overall shipments for the quarter, with HLOS smartwatches seeing a remarkable 122 per cent surge.