China’s smartwatch shipments fell 8.8% YoY in 2022, primarily as a result of COVID-zero coverage’s influence on demand, in line with Counterpoint Analysis’s newest International Smartwatch Mannequin Tracker. Huawei and Apple dominated the China smartwatch market in 2022, with their mixed share rising to virtually 50%. Solely OPPO (105% YoY), Apple (4% YoY) and Huawei (9% YoY) grew YoY amongst key manufacturers.
Senior Analyst Shenghao Bai mentioned in a press release, “China’s strict anti-COVID insurance policies impacted shopper sentiment in 2022. Curbs on motion and distant training rules additional impacted the demand for youths’ smartwatches within the nation, the world’s largest youngsters’ smartwatch market, and their shipments fell 25% YoY. From key manufacturers’ perspective, solely Huawei, Apple and OPPO achieved YoY progress, pushed by the success of their new launches.”
The largest standout characteristic of the 12 months was the high-to-premium segments’ (>$200) share rise. Shipments within the $301-$400 phase grew 31% YoY, whereas shipments within the ≥$401 phase grew a whopping 1138% YoY. The ≤$50 phase’s share dropped to 22%, with a 28% YoY lower in shipments in comparison with the earlier 12 months.
Senior Analyst Ivan Lam mentioned in a press release, “The demand for high-end and premium segments remained comparatively sturdy in 2022, regardless of the decline in shopper sentiment and international macro headwinds. This shift to the high-end phase is much like the shift witnessed within the smartphone market in 2022. Excessive-end smartwatch shoppers normally have greater calls for for well being detection, communication and system options. Such shoppers are additionally extra loyal to the model. In recent times, Apple and Huawei’s advertising efforts have led high-end shoppers to view their smartwatches as professional-grade units with superior sports activities and well being monitoring capabilities. These watches are additionally appreciated for his or her smooth and classy designs, making them appropriate for on a regular basis put on.”
Analysis Affiliate Alicia Gong added, “As Chinese language shoppers’ expectations for smartwatch options and experiences proceed to rise, entry-level fashions’ (≤$50) share is falling progressively.”
Good gross sales of Apple’s Watch Collection 7 fashions, coupled with the newly launched Watch Collection 8 and Extremely fashions, helped Apple register 4% YoY cargo progress in China. Continued innovation in well being monitoring capabilities, in addition to the right information and interplay expertise, drove Apple’s progress. In the meantime, the Extremely has created a brand new phase {of professional} smartwatches, which helped Apple dominate the premium segments.
MacDailyNews Word: Counterpoint expects China’s smartwatch market to rebound as a consequence of an lively quantity push by OEMs reminiscent of Huawei, Xiaomi, HONOR, and OPPO in China’s post-“Zero COVID” period in 2023. The market’s ASP (common promoting worth) can also be anticipated to rise as a result of steady demand for extra skilled fashions spearheaded by Apple Watch Extremely.
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