Shulou(Shulou.com)11/24 Report--

CTOnews.com news on December 13, Canalys released a report today that the market for Chinese mainland wearable wristbands remained weak in the third quarter of 2022, with overall shipments of 12.1 million units, down 7.0% from the same period last year.

Among them, the bracelet market fell for eight consecutive quarters compared with the same period last year, with shipments falling to 3.5 million units. Basic watches also fell in the quarter, down 7.7% from a year earlier to keep shipments at 5.1 million units. Smartwatches became the only segment of the Chinese mainland market that maintained growth in the third quarter, rising 16.8 per cent year-on-year to 3.4 million units. Basic watches still have the largest market share in the mainland, with more than 40 per cent, while smart bracelets and smartwatches are 29 per cent and 28 per cent respectively.

CTOnews.com learned that the top five wearable wristband market shares in Chinese mainland in the third quarter of 2022 were Huawei (24.0%), Xiaomi (21.9%), Xiao Genius (9.8%), Apple (8.6%) and OPPO (4.3%).

Huawei gradually lost its home-court advantage in Chinese mainland in the third quarter, Canalys said. Its competitors are accelerating to catch up in the watch field, and Xiaomi, OPPO and vivo will accelerate the improvement of the IoT ecosystem as a strategic goal to actively expand their watch product portfolio to cover a wider range of prices. Apple's new Apple Watch Ultra is popular with consumers for its recognizable design, driving market growth of more than $700 and consolidating its high-end market position. In addition to mainstream manufacturers, children's watch manufacturers such as Xiao Genius also contributed to the growth of smartwatches in the third quarter with novel forms that can be photographed and flipped.

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