China’s smartwatch shipments fell 9.3% YoY in 2022, mainly due to the COVID-zero policy’s impact on demand, according to Counterpoint Research.

The country’s smartwatch market size declined to pre-COVID levels in the year as China’s strict anti-COVID policies impacted consumer sentiment. Only Q1 2022 registered a quarterly YoY shipment growth. Meanwhile, global smartwatch shipments grew 12% YoY during the same period.

Global smartwatch shipments grew 12% YoY in 2022
Global smartwatch market shipments marked a 12% YoY in 2022 due to the strong YoY growth witnessed in the first three quarters of the year but slowed down in the fourth quarter of 2022 amid inflationary pressures and slow growth in India, according to recent research published by Counterpoint. In

Huawei and Apple emerged as the leading players in the China smartwatch market in 2022, with their combined market share rising to almost 50%. Among the major brands, only OPPO (105% YoY), Apple (22% YoY), and Huawei (9% YoY) managed to achieve YoY growth, driven by the success of their new launches.

The most noteworthy aspect of the year was the increase in market share of high-end to premium products priced above $200.

Shipments in the $301-$400 price range grew by 46% compared to the previous year, while shipments in the >$401 price range saw a staggering increase of 1292% YoY. On the other hand, the market share of products priced below $50 dropped to 20%, with a YoY decrease of 35% in shipments.