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Apple was one of many solely firms to develop its wearables enterprise in China in 2022, with the Apple Watch Ultra serving to to create a brand new section for skilled smartwatches.
China’s smartwatch shipments decreased by 9.3% year-over-year in 2022, primarily as a result of influence of the COVID-zero coverage. In consequence, the market shrank to pre-COVID ranges, with solely quarter one in all 2022 registering a quarterly year-over-year cargo progress.
Research from Counterpoint exhibits that Huawei and Apple dominated China’s smartwatch trade in 2022, with a mixed share rising to almost 50%. Apple, OPPO, and Huawei had been the one high manufacturers to develop year-over-year at 22%, 105%, and 9%, respectively.
Robust gross sales of Apple’s Watch Collection 7 fashions and the newly introduced Watch Collection 8 and Extremely fashions helped Apple put up cargo progress in China. Ongoing innovation in well being monitoring options and a great information and interplay expertise fueled Apple’s success.
The Apple Watch Extremely, which created a brand new section for skilled smartwatches, helped Apple dominate the premium markets.
Probably the most important side of the 12 months was the share rise of the high-to-premium section for smartwatches higher than $200. Shipments within the $301 to $400 section grew 46% year-over-year, whereas shipments within the $401 and over market grew a 1,292% year-over-year.
“This shift to the high-end section is just like the shift witnessed within the smartphone market in 2022,” stated senior analyst Ivan Lam. “In recent times, Apple and Huawei’s advertising and marketing efforts have led high-end customers to view their smartwatches as professional-grade units with superior sports activities and well being monitoring capabilities.”
Counterpoint expects China’s smartwatch market to rebound attributable to lively quantity push by OEMs and post-COVID reopening measures in 2023. The market’s common promoting worth might also rise as a result of continued demand for extra skilled smartwatches.