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The Q1 2024 global best-selling smartwatch market analysis brief of ChaoTeleWear is based on the sales data of the TOP 20 best-selling smartwatch models in the past 6 quarters. The market is briefly analyzed in four dimensions: region, price segment, brand share, and model performance, to provide a fresh perspective on the most active, vibrant, and certainly profitable forces in the global smartwatch market.

 

 

Global Smartwatch Market Trends

 

 

Total sales in Q1 2024 amounted to 33.29 million units, a decrease of 11.53 million units compared to the previous quarter. The market continues to decline.

 

 

 

In addition, total smartwatch Top 20 sales by price segment totaled approximately 19.13 million units in Q1 2024, a decrease of 26% from 25.84 million units in Q4 2023 and an increase of 11% from 27.58 million units in Q1 2023.

 

 

 

Smartwatch sales comparison by price segment

 

 

 

Data from Chaodian Intelligence said that in terms of global smartwatch shipments, sales in Q1 2024 were mainly in the $300+, high-end type of brands occupying a major portion of the market, accounting for 53% of all price segments, with the $150-$300 price segment accounting for 16%, and the remaining 31% being low-end priced products.

 

 

 

Smartwatch Sales Comparison by Region

 

 

 

 

According to the data comparison between Q1 2024 and Q4 2023, although the share of the Indian region decreased by 1% in Q1 compared to the previous quarter, overall the Indian region is still in the leading position in terms of global sales share. China's share rose to 27% from 22% in the previous quarter, the largest increase compared to other regions. All other regions reflected small changes, which are normal.

 

 

 

 

Top 20 brands market pattern

 

 

From the data, Apple, Huawei and Samsung sit firmly in the top three, with the combined market share of the three brands exceeding 64% of the global market.

 

 

 

The total shipments of global best-selling smartwatches Top20 amounted to 19.13 million units, and in the Q1 quarter, Xiaomi continued to grow, capturing the market share of Top4, which increased by about 6.5 percentage points compared with the previous quarter.

 

 

 

This quarter, the Casio brand grew its share of the market compared to the previous quarter, entering the Top20 statistics.

 

 

 

 

 

 

 

Top 20 best-selling $300+ models

 

 

 

 

Q1 2024 global best-selling smartwatches $300 + best-selling models TOP20 total shipments of 13.29 million units, the top three brands in total sales at this price point are Apple, Huawei and Samsung.

 

 

 

By the data show that Apple Watch Series 9 sales fell more than 50% in this quarter, a total of six brands in this quarter, Apple and Huawei, Samsung's best-selling models bagged 92% of the list, it is worth noting that the traditional watch manufacturer Casio GSW-H1000 single model logged in the list of $300 +.

 

 

 

 

 

Top 20 best-selling models in the $150-$300 range

 

 

 

 

Global shipments of best-selling smartwatches in the mid-range price market totaled 3.08 million units, with Apple, Genius and Huawei occupying the top three model sales positions.

 

 

 

A total of eight brands made the list this quarter, with Apple's Watch SE 2022 best-selling model topping the charts for the third consecutive quarter. Huawei and Genius had the most models in the top 20, but the aggregated sales of Huawei's six finalists failed to exceed the sales of Apple's champion model.

 

 

 

 

 

 

Top 20 best-selling models in the $0-$150 range

 

 

 

 

The Top20 best-selling smartwatches $0-$150 best-selling models totaled 10.51 million units shipped in Q1 2024.

 

 

 

The top three Top20 brands in total sales were Xiaomi and Huawei. Xiaomi performed well this quarter, with several models ranking in the top, and the two best-selling models, Redmi Watch 3 Active and Redmi Watch 4, have combined to sell more than a million units.

 

 

 

This 0-150 dollars best-selling models ranked a total of five brands in the list, Fastrack through the Revoltt FS1 the only model successfully among the seventh into the list, in the list it is worth noting that the Indian brand Noise, Fastrack prices are less than 10 dollars.