Samsung smartwatch gross sales take successful as competitors steps up

At the moment could also be a vacation right here within the US, however for cellular tech followers, the large celebration remains to be a couple of days away. Subsequent Wednesday, on July 9, Samsung hosts its newest Unpacked occasion in New York Metropolis, the place the corporate is anticipated to introduce not simply its newest lineup of foldable telephones, but in addition debut the Galaxy Watch 8 sequence. With a brand new “squircle” design defining the {hardware}, Samsung must persuade customers this can be a transfer in the best route. And based mostly on the most recent market report, getting a win this 12 months could also be extra vital than ever.

Apple dominates the smartwatch market, and whereas that doesn’t appear like it’s altering anytime quickly, there’s been way more movement on the subject of the gamers vying for the following few prime spots.

A number of months again, we checked out a report evaluating the smartwatch market in 2023 with 2024. Whereas Samsung was kind of treading water, we noticed main development from each Huawei and Xiaomi, with the previous solidifying its second-place standing proper under Apple, and the latter beginning to appear like it would quickly surpass Samsung.

This week, Counterpoint is again with its newest market evaluation, and it’s much more dangerous information for Samsung:

That Chinese language competitors continues to point out large positive factors whereas Samsung’s place solely continues to weaken, and throughout Q1 the corporate soundly discovered itself relegated to a fourth-place place.

The scenario for Samsung begins feeling much more perilous after we take a look at the place gross sales are coming from:

It’s regarding sufficient that whole shipments are on the decline, however Samsung must be notably apprehensive concerning the shrinking market in Europe, and much more critically, North America. In the meantime, gross sales in markets that sometimes prioritize extra value-priced electronics are on the rise, which you’d assume would counsel that Samsung and its premium Galaxy Watch lineup are at a pronounced drawback. Regardless of that, analysts report that gross sales within the $100–$200 bracket are on the rise, whereas the sub-$100 stage is seeing losses.

Whereas none of that is nice to see, it’s additionally price remembering that we’re speaking particularly about Q1 with as we speak’s knowledge, which is mainly the alternative aspect of the 12 months from when Samsung introduces its new smartwatches — so, maybe we must always count on Samsung’s figures to be a bit of weak.

Regardless, we’re nonetheless very enthusiastic about this new crop of Galaxy Watch fashions, and you aren’t going to wish to miss all of our protection surrounding Unpacked subsequent week.