Samsung smartwatch gross sales take a success as competitors steps up

At present could also be a vacation right here within the US, however for cell tech followers, the large celebration continues to be a number of days away. Subsequent Wednesday, on July 9, Samsung hosts its newest Unpacked occasion in New York Metropolis, the place the corporate is anticipated to introduce not simply its newest lineup of foldable telephones, but additionally debut the Galaxy Watch 8 collection. With a brand new “squircle” design defining the {hardware}, Samsung must persuade buyers it is a transfer in the best course. And based mostly on the newest market report, getting a win this yr could also be extra essential than ever.

Apple dominates the smartwatch market, and whereas that doesn’t seem like it’s altering anytime quickly, there’s been far more movement with regards to the gamers vying for the subsequent few prime spots.

A couple of months again, we checked out a report evaluating the smartwatch market in 2023 with 2024. Whereas Samsung was kind of treading water, we noticed main progress from each Huawei and Xiaomi, with the previous solidifying its second-place standing proper beneath Apple, and the latter beginning to seem like it’d quickly surpass Samsung.

This week, Counterpoint is again with its newest market evaluation, and it’s much more unhealthy information for Samsung:

That Chinese language competitors continues to indicate massive beneficial properties whereas Samsung’s place solely continues to weaken, and throughout Q1 the corporate soundly discovered itself relegated to a fourth-place place.

The scenario for Samsung begins feeling much more perilous once we take a look at the place gross sales are coming from:

It’s regarding sufficient that whole shipments are on the decline, however Samsung ought to be significantly anxious concerning the shrinking market in Europe, and much more critically, North America. In the meantime, gross sales in markets that sometimes prioritize extra value-priced electronics are on the rise, which you’d suppose would counsel that Samsung and its premium Galaxy Watch lineup are at a pronounced drawback. Regardless of that, analysts report that gross sales within the $100–$200 bracket are on the rise, whereas the sub-$100 degree is seeing losses.

Whereas none of that is nice to see, it’s additionally price remembering that we’re speaking particularly about Q1 with in the present day’s information, which is principally the alternative aspect of the yr from when Samsung introduces its new smartwatches — so, maybe we must always count on Samsung’s figures to be slightly weak.

Regardless, we’re nonetheless very enthusiastic about this new crop of Galaxy Watch fashions, and you aren’t going to wish to miss all of our protection surrounding Unpacked subsequent week.