Huawei achieves highest growth rate in Q1 2024 global wearable market

Canalys has recently released its analysis of the global wearable market in Q1 2024 and found that Huawei has the highest growth rate among all the contenders. The company has successfully made its way into the top three rankers of the listing.

The report shows a stable line in the overall growth of worldwide wearable retail ground. In other words, there aren’t major changes in the progress compared to the same period last year. A total shipment of 41.2 million units took place in Q1 2024.

Among the top 5 tech vendors in the Q1 2024 global wearable market race, Huawei obtained the third spot. The company achieved a total of 13% share in the smartwatch market. Although the significant point is that it has the highest annual growth rate.

Huawei procured 46% YoY progress in the global wearable field, edging out Samsung and Noise brands in unit share. Apple is wearing the crown of the global wearable surface with an 18% market share. But it has significantly declined by 12% YoY.

Q1 2024 global wearable market report (Image Credits: Canalys)

Xiaomi is in second place with a 15% market share and a 38% annual growth rate. Samsung and Noise are standing at the fourth and fifth positions respectively.

Chinese wearable market: Report

Taking a look at the China wearable ranking in the first quarter of this year, Huawei is sitting at the top with a market share of 38%, leaving behind its rivals.

It also sees an increase of 38% in the annual growth, again the highest among others. Meanwhile, Xiaomi is again in second spot with a 22% market share and 15% YoY increment. Tech giants like Apple and Honor are standing last in the queue with 6% and 2% market share respectively.

Q1 2024 China wearable market report (Image Credits: Canalys)