According to a recent research report published by Strategy Analytics, in the first quarter of 2020, global smartwatch shipments increased by 20% year-on-year to 13.7 million. Among the best-performing models, the Apple Watch maintained first place with a 55% market share. Samsung ranked second and Garmin rose to third.
Steven Waltzer, the senior analyst at Strategy Analytics, said: ‘Global shipments of smartwatches grew from 11.4 million units in the first quarter of 2019 to 13.7 million units in the first quarter of 2020, an increase of 20%. Although there was a great negative impact, the global demand for smartwatches continues to grow. Smartwatches are selling well through online retail channels, while many consumers have been using smartwatches to monitor their health and fitness during virus lockdown.’
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Strategy Analytics said that in the first quarter of 2020, the Apple Watch shipped 7.6 million units worldwide, an increase of more than 23% from 6.2 million units in the first quarter of 2019. Also, its market share increased from 54% to 55%. Samsung shipped 1.9 million smartwatches, compared to 1.7 million last year, while its market share went down from 15% to 14%. The main reason for this is the coronavirus lockdown in South Korea and new competition from rivals like Garmin.
Garmin appeared in third place for the first time in two years, shipping 1.1 million smartwatches in the first quarter, a 38% increase from 800,000 a year ago. Its market share grew from 7% to 8%. It could reach such results due to new models like the Venu with OLED color touchscreen.