A recent report from the research firm Strategy Analytics reveals global smartwatch shipments record in the first quarter of 2020. According to the report, Apple grabbed the first position in the market with a 55% market share in total shipments of Q1 2020. Apple managed to raise its market share from 54% in the same quarter in 2019 to 55% in the first quarter of this year. Cupertino based tech giant beat its major rivals like Samsung, Fitbit, and Garmin in total shipments as well as in market share.
In the first quarter of 2020, Apple shipped 7.6 million units as compared to the 6.2 million units of Q1 2019. This indicates a YoY growth of 22.6% in total shipments of the Apple watch units. Along with the growth in total shipment units, Apple also managed to consolidate its market share. With more than 50 percent market share, Apple leads the segment through its premium devices like Apple Watch Series 5 and Apple Watch Series 4.
Samsung reports decent growth and grabs the second position with 1.9 million units shipments in the first quarter of 2020. Although Samsung reports an increase in shipment units compared to the same quarter in 2019, it witnesses a drop in market share from 14.9% in Q1 2019 to 13.9% in Q1 2020. The main factors behind the drop in Samsung’s market share are COVID 19 lockdown at South Kora and competition from rivals like Garmin. From the YoY growth perspective, Garmin emerged as the strongest player in this quarter as it records 37.5 percent growth.
Garmin ranked third in the chart with a total of 1.1 million units sold out in Q1 2020, compared to 0.8 million in the same quarter last year. Garmin not only managed to increase its market share from 7% in Q1 2019 to 8% in this quarter but also beat Fitbit and emerged third major player. The report also mentions that due to COVID 19 pandemic, global smartwatch shipments may expect a short decline in the second quarter of this year but it will back soon on the growth track in the third quarter.