According to the IDC report, Huawei has ranked third in the Q4 2022 world’s wearables market. The shipment of Huawei’s wearables was 8.3 million units, capturing a 6.0% market share. In the list, Apple ranked at the first place and Samsung second.
“Given the tough economic environment consumer demand has understandably slowed,” said Jitesh Ubrani, research manager for IDC Mobility and Consumer Device Trackers. “Having lower cost options available as part of their portfolio is one way vendors can help spur some demand in the coming quarters. Beyond that, trade-in offers, financing options, and subscription services will also play a key role in maintaining profitability while also bringing value to consumers.”
“The past two years saw heady growth for the worldwide wearables market and the 2022 decline is what happens once demand has been satiated,” said Ramon T. Llamas, research director, Mobile Devices and AR/VR at IDC. “The silver lining is that users will eventually replace their devices and that will put the market back on track for growth. This is where companies with a broad selection of devices with varying feature sets, price points, and an ecosystem built around them will be rewarded once growth returns.”