CHART: China records a resurgence in smartwatch shipments in Q2 2023

After facing challenges in previous quarters, the Chinese smartwatch market saw a 5% year-on-year growth in smartwatch shipments during Q2 2023, according to Counterpoint Research’s latest Global Smartwatch Model Tracker.

While this might seem modest, it signifies a gradual recovery in the wearable tech ecosystem. Although the YoY rise in Q2 came on a low base of the same period last year, the holiday travel in Q2 and the 618 e-commerce festival also boosted consumer demand for smartwatches.

Leading the charge in this resurgence was Huawei, with a staggering 58% year-on-year increase in smartwatch shipments. Also, Imoo (BBK), experienced a resurgence in demand to reach a 21% share which came as a result of the first full back-to-school quarter since the pandemic lockdown.

On the other hand, premium brand Apple experienced a 15% YoY decrease in Q2 2023, as shown in the Techloy chart below. Notably, the shipments of its Series 8 were 25% lower than its predecessor, the Apple Watch Series 7, during Q2 2022.