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Friday, May 29, 2020

Apple maintains lead after smartwatches defy global sales slump

The Apple Watch is seen as one of the key growth drivers for the US company, which has stopped detailing quarterly iPhone shipments as the smartphone market matures.

By: Bloomberg | Updated: May 7, 2020 1:17:13 pm
Apple, Apple Watch, Apple Watch sales, most popular smartwatch, where to buy an Apple Watch during lockdown, Apple Watch profit, Apple iPhone sales, iPhone SE Apple Watch is seen as one of the key growth drivers for the US company, which has stopped detailing quarterly iPhone shipments as the smartphone market matures. (Express Photo: Anuj Bhatia)

Apple Inc again commanded a majority share of the smartwatch market in the first quarter, when the Covid-19 outbreak encouraged health tracking and drove a 20 per cent rise in shipments.

Global smartwatch shipments reached 13.7 million units in the first three months of this year, defying a worldwide slump in consumer electronics arenas such as mobile phones. Apple’s share inched up a percentage point to 55.5 per cent, according to Strategy Analytics.

The Apple Watch is seen as one of the key growth drivers for the US company, which has stopped detailing quarterly iPhone shipments as the smartphone market matures. Compal Electronics Inc and Quanta Computer Inc are the Cupertino, California giant’s assembly partners for the wearable device, according to GF Securities analyst Jeff Pu.

Strategy Analytics notes that Apple achieved its highest market share in two years after shipping 7.6 million units. Samsung Electronics Co was second with 1.9 million and Garmin Ltd rounded out the top three with 1.1 million.​

Also Read: WWDC 2020: What to expect from Apple’s big developer conference

​“We expect global smartwatch shipments to slow sharply in the second quarter of 2020, due to the ongoing Covid-19 pandemic,” said Woody Oh, a director at Strategy Analytics. “However, the second half of this year and beyond will see a decent rebound, as consumers worldwide steadily regain confidence and more retail stores reopen.”

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