Thanks to the booming consumer electronics market in India, global smartwatch shipments grew in the third quarter.

 

The total shipments of Top 10 smartwatch ODMs in September 2022 were 8.71 million units, up 11.2% compared to July.

 

In September, Lixun Precision and Foxconn, which OEMs to the fruit chain, remained in the top two, and while shipments only declined slightly compared to July (the former by 0.05kk and the latter by 0.03kk), their market share shrank significantly. This is due to a 40% increase in shipments of Yawei Smart in September, as well as a 70% spike in Qivo Smart, harvesting the share share of the top two.

 

According to Tide Power Intelligence industry chain research, Ya We and Qivo took orders from Indian brands Noise and BoAt respectively. Both India's local smartwatch sales grew significantly in the third quarter, with Noise smartwatch shipments surging 218% year-on-year; meanwhile BoAt sold 2.32 million smartwatches in the third quarter, up 95% sequentially.

 

The domestic smartwatch market, compared to July, did not improve significantly, so manufacturers such as Huaqin and Longqi, which do ODM for domestic head smartwatch brands such as Xiaomi, both saw their shipments decline to some extent in September.