Apple Watch continues to be the global numero uno with an active user base of over 100 million (10 crore), but its market share has gone down in the second quarter (Q2) of 2021 due to presence of cheaper smartwatch models, says a Counterpoint study.
In fact, the smartwatch market grew 27 per cent this quarter compared to the same period last year with Apple at the top in terms of shipments. The numbers are encouraging considering the negative impact of COVID in the last financial year.
Apple Watch Series 6 was the top-selling smartwatch around the world. Apple Watch SE and Apple Watch Series 3 were the other top sellers. But despite its global appeal, more than 50 per cent of Apple watches are still sold in the US markets with an attach rate of close to 30 per cent, said Counterpoint’s senior analyst Sujeong Lim.
Lim said, “Apple’s ecosystem is seeing a greater attach rate as the brand continues to bake in attractive designs, health features and related services around it. Apple Watch’s user base crossed the 100-million mark for the first time during the quarter ended June, capturing the lion’s share of the smartwatch user base globally.”
Apple watches have a 28 per cent market share and is way ahead of its closest rivals like Huawei, Samsung and Garmin.
India accounted for less than 2 per cent of the global smartwatch market, but its share increased to 6 per cent in less than a year. Counterpoint’s senior analyst Anshika Jain says the sub-$100 smartwatches have seen a rise in demand.
“The proliferation of sub-$100 affordable, feature-rich smartwatches from Chinese brands such as Xiaomi, Realme and Oppo, and Indian brands such as boAt and Noise has been one of the key growth drivers,” said Jain.
Apple enthusiasts can expect new iPhones and the Apple Series 7 with some upgrades over the Series 6 in the company’s upcoming fall event.
The Apple Watch Series 6 is sold in India at a starting price of ₹40,900, while the Apple Watch SE starts at ₹29,900. The Apple Watch Series 3 is sold for ₹20,900.