The market expert organization International Data Corporation (IDC) recently released a report on the global wearable of the fourth quarter of 2020. According to the report, worldwide wearable exports reached 153.5 million in the fourth quarter of 2020 (4Q20), up 27.2 percent year-over-year.
According to the research report, Apple re-entered the market with a 36.2% share of 4Q20 exports. Apple has achieved this place by mainly selling three models Apple Series 6, Watch SE, and Series 3 with different price points, its watch exports increased by 45.6%.
The exports also increased during the quarter but, but annual growth slowed to 22 percent. It has fallen from 28 percent to 29 percent in the last two quarters. The slow-growing market reflects a large number of adoptions in recent quarters.
While Samsung ranked third in the wearable business as the company exported 8.8 million units under various brands. Samsung exported 8.8 million units under various brands. Samsung’s low-cost wristbands also saw more significance, and they wearable to compete with Chinese sellers in some markets, but the total volume of these devices was relatively 1.3 million units, the total watch exports declined to 2.9 million in 4Q 2020.
However, Xiaomi came in the second position with 5% growth per year. Though, the company’s leading Mi band range exports dropped 18.3 percent. Focusing mainly on China and the Asia/Pacific region, the Wearables line, which has grown by 55.5% since last year, has led to overall growth through expansion.
Looking forward, the company is in a good position to take advantage of Huawei’s crash and thrive in EMEA for the advancement of the smartphone industry.
Moreover, Huawei moved to fourth place in the 4Q20, fighting US government sanctions. The exports in the Chinese market grew by 9.4 percent year-on-year, while exports fell in strong markets such as Asia/Pacific (excluding Japan and China), the Middle East, Africa, and Western Europe.
The company began switching from wristbands to watches with an 18.2% increase in watch exports and a 33.7% decline in wristbands. The wearables also set a high average selling price (ASP) and allowed the company to reach developers with their homegrown Harmony OOS that they hope will connect with their smartwatches in the future.
BoAt rounded out the top five with 5.4 million units shipped in 4Q20. However, the company operates entirely in India and focuses only on the wearable segment. Similarly, the global expansion will be challenged as multinational brands continue to dominate the global wearables market.