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it home reported on september 5 that according to the latest "global wearable device market quarterly tracking report" released by international data corporation (idc), the global wrist-worn device market shipped 43.74 million units in the second quarter of 2024, a year-on-year decrease of 0.7%; china's wrist-worn device market shipments were 15.55 million units, a year-on-year increase of 10.9%, and its development speed was significantly faster than the global market.

the wrist-worn device market includes smart watches and wristband products. among them:

in the second quarter of 2024, the global smartwatch market shipped 34.75 million units, a year-on-year decrease of 3.2%, while the chinese smartwatch market shipped 11.14 million units, a year-on-year increase of 18.7%.

in the second quarter of 2024, the global shipments of the wristband market were 8.99 million units, a year-on-year increase of 10.6%; the shipments of the chinese wristband market were 4.41 million units, a year-on-year decrease of 4.8%.

the report mentioned that not only the development speed of china's wrist-worn market is faster than the global market, but in the first half of 2024, chinese manufacturers will also maintain a rapid growth rate and a strong market position in the global wrist-worn market. it home attached the specific performance of manufacturers as follows:

performance of global wrist-worn market in the second quarter

1、huawei

huawei has achieved significant growth in the first half of this year with the launch of new bracelets and smart watches. it has ranked first in the global wrist wearable market for two consecutive quarters, and has made great progress in the middle east and africa, latin america, and central and eastern europe. the new fit 3 has played an important role in the appearance of its smartwatch product line, significantly driving the growth of its wrist wear shipments. in addition, huawei has been ranked first in shipments in the chinese wrist wearable market since 2021.

2、millet

although no new bracelets were released in the first half of the year, xiaomi still achieved significant growth and ranked second in the global wrist-worn market in terms of shipments. this was due to the strong performance of its smartphones, and also to the breakthroughs made by xiaomi smartwatches in the entry-level and mid-range price segments. its redmi series achieved significant growth in the entry-level market through the co-operation of new and old products, and the s3 watch also made breakthroughs through innovative designs such as appearance. the watch 2 series made progress in the development of high-end smartwatches. in the second half of the year, xiaomi's wrist-worn product line will continue to grow after the launch of new bracelets.

3、Apple

apple smartwatch shipments have declined due to the global macroeconomic environment and fierce market price competition. however, it is worth mentioning that apple still ranks first in the global smartwatch market, which also represents its flagship market position in product development and sales performance. at the upcoming autumn new product launch conference, the next generation of apple smartwatch will also attract much attention and is expected to boost its current temporarily declining market performance.

4、samsung

samsung's growth in the wristband market mainly comes from its new galaxy fit 3 wristband launched at the beginning of this year, which effectively supplements its wristband product line in terms of appearance and price distribution. galaxy fit 3 is mainly sold in developing regions, filling the gap in the local wristband market in the mid-to-high-end price segment and also bringing a significant increase in shipments. samsung's smartwatch has entered the end of the 6th generation of products, and future growth will be driven by new products after they are launched.

5、backgammon

as a manufacturer of children's watches, bbk's significant growth in shipments mainly comes from the recovery of the chinese children's watch market. the chinese children's watch market has grown significantly in the first half of this year, thanks to the recovery of social activities, the temporary stability of the age-appropriate population, and the impact of the replacement cycle. bbk has further expanded its sales advantage in the chinese market through channel development and differentiated layout of price segments, thus achieving significant growth.

performance of china's wrist-worn market in the second quarter

the rapid development of china's wrist-worn market is mainly affected by differentiated product price layout, promotional season activities and the long-tail nature of terminal consumption.

1、product price differentiation layout

most manufacturers in the wristband market have further increased their focus on products within the thousand-yuan range and below in terms of supply-side product layout, providing consumers with more choices in terms of price, appearance, brand and network standards.

2、promotional season activities

most of the flagship products of leading manufacturers have promotional policies to varying degrees, and the promotional policies generally start earlier than in previous years, which has a certain driving effect on shipments.

3、long-tail terminal consumption

consumers are gradually accepting the fragmentation of smart terminal devices and developing a wider range of curiosity and attempts. coupled with the public's increasing attention to health issues, this will bring a broader user base for the development of wrist-worn devices.