Top 5 Global Smartwatch Shipments in 2023: Apple Leads, Huawei and Xiaomi Follow

Market Overview

Global smartwatch shipments in 2023 were approximately 120 million units, up about 8% year-on-year, driven by upgraded health monitoring features and penetration into emerging markets. Apple maintained its dominance with Watch Series 9 and Ultra 2 series, shipping about 35 million units, capturing a market share of about 29% (some sources cite around 35%, but industry estimates average 29%). Samsung ranked second with about 15 million units, boosted by the Galaxy Watch6 series. Huawei shipped about 12 million units, performing steadily in China and Europe with its GT series and health ecosystem. Xiaomi shipped about 8 million units, leveraging the Redmi Watch value strategy. Amazfit shipped about 6 million units, with breakthroughs in overseas markets, especially the Americas.

Ranking Analysis

• Apple: ~35 million units, ~29% share, continues to dominate the high-end segment but growth slowed to single digits.
• Samsung: ~15 million units, 12.5% share, benefiting from synergy with Samsung phones and new features.
• Huawei: ~12 million units, 10% share, overseas share pressured by sanctions but strong domestic growth.
• Xiaomi: ~8 million units, 6.7% share, capturing entry-level market share.
• Amazfit: ~6 million units, 5% share, focusing on cost-effectiveness and long battery life.

Performance of Chinese Brands

Three Chinese brands together shipped about 26 million units, accounting for approximately 21.7% globally, demonstrating the collective rise of Chinese enterprises in smart wearables. Huawei competes with Samsung in the high-end, while Xiaomi and Amazfit drive volume in the low-to-mid range. However, these brands still lag behind Apple in operating systems, health algorithms, and overall ecosystem.

Outlook

In 2024, with the integration of AI large models and improved health monitoring accuracy, smartwatches are expected to become more widespread. Chinese brands should strengthen chip self-research and ecosystem development to increase their share in the high-end segment.