New Delhi (IANS) | China’s smartwatch shipments are expected to decline by 9.3 percent (year-on-year) in 2022, mainly due to the impact of the COVID-Zero policy. This information has been given in a new report on Thursday. The country’s smartwatch market size shrunk to pre-Covid levels this year, with only the first quarter of 2022 registering an increase in shipments, according to Counterpoint Research.
However, global smartwatch shipments grew by 12 percent (year-over-year) during the same period.
Shenghao Bai, Senior Analyst, said, “China’s strict anti-Covid policies affect consumer sentiment in 2022. Curbs on movement and remote education regulations hit kids’ smartwatch demand in the country, the world’s largest children’s market.” smartwatch market, and their shipments declined by 25 percent (year-over-year).
Furthermore, the report states that Huawei and Apple are set to dominate China’s smartwatch market in 2022, taking their combined share to nearly 50 percent.
Only Oppo with 105 percent (y-o-y), Apple with 22 percent (y-o-y) and Huawei with 9 percent (y-o-y) is one of the leading brands in 2022.
“From the perspective of major brands, only Huawei, Apple and Oppo have achieved year-on-year growth, driven by the success of their new launches,” Bai said.
The report further mentioned that the biggest standout feature of the year was the share growth in the high-to-premium segment (less than $200).
Shipments in the $301-$400 segment grew by 46 percent (y-o-y), while shipments in the less than $401 segment grew by a whopping 1292 percent (y-o-y).
–IANS
