Smartwatch shipments are up 67 percent thanks to a strong showing from the Apple Watch Series 4, Fitbit Versa, and Samsung Galaxy Watch.
Strategy Analytics estimates smartwatch shipments to be up as much as 67% compared to this time last year with as many as 10 million devices shipping out.
Based on their data, 4.5 million shipments are accounted to Apple, 1.5 million to Fitbit, 1.1 million to Samsung, 0.8 million to Garmin, and 2.1 million to the rest of the market to make up a total of 10 million units in the third quarter.
Perhaps what’s most telling is the growth compared to this time last year. Apple shipped 3.1 million devices in Q3 17, compared to 4.5 million in Q3 2018. Incredibly, Fitbit went from selling less than 100k units to 1.5 million units inside the space of a year thanks to the Fitbit Versa. They’ve seen healthy earnings boost as a result.
According to Strategy Analytics, Apple saw it’s market share decrease from 60% in Q3 17 to 45% in Q3 2018. This comes on the same day Apple dropped iPhone unit shipments from its quarterly results. The decision to omit unit shipments from future quarterly results didn’t go down well with investors who think Apple’s got something to hide.
Moving back to the smartwatch market, what the numbers tell us is there’s plenty to get excited about. Also, key players in the industry are making moves. Qualcomm launched its next-gen smartwatch chipset in September, and Samsung and Garmin have both brought out top devices recently in the Galaxy Watch and Garmin Instinct.
This tells us that important players see the smartwatch market as high potential, and with the holiday season just a short time away, Q4 could be just as exciting as Q3. We’ll be back with those figures when they get announced next year.