China's wearable market surges 17% in second quarter of 2013
Chinese article by 刘昕炜
English Editor 张未名
09-20 10:54

By Kate Yuan

(JW Insights) Sep 19 -- China's wearable market witnessed shipments of 33.5 million units in the second quarter of 2023, up 17.3% over the last year. This marks the largest quarterly shipments since 2022, according to the latest report released by research firm IDC.

Although the market has not yet fully recovered to the level of 2021, the demand for wearable devices has started to be unleashed against the backdrop of the easing of outdoor and travel activities. Additionally, the overall market has experienced a recovery due to price reductions of various products stimulated by mid-year promotions, said IDC.

Smartwatch shipments reached 9.42 million units, with a year-on-year growth of 11.5%. Among them, adult smartwatches accounted for 4.65 million, up 10.4%, while children's smartwatch shipments reached 4.77 million, growing by 12.5% over the previous year.

The shipments of smart bands hit 4.63 million units, with a significant year-on-year growth of 20.9%. Compared to smartwatches, smart bands experienced a more substantial rebound, with Xiaomi and Huawei jointly driving the growth as leading brands. Smart bands, as entry-level products in the wristwear market, align more with the consumer mentality of "saving while spending" in the current economic environment, according to IDC.

The earwear shipments reached 19.33 million units in Q2, showing a year-on-year growth of 19.5%. The shipments of true wireless stereo (TWS) stood at 15.11 million units, increasing by 18.6% from a year earlier. The earwear products have been more focused on the low-price segment, reflecting the consumer demand that is sensitive to prices yet still exists.

The adult wristwear market further concentrated on three tech giants, including Huawei, Xiaomi, and Apple in Q2 of 2023. These brands enjoy high product recognition and offer promotional discounts, resulting in a more robust increase driven by these dual factors, said IDC.

Meanwhile, the wristwear market as a whole exhibited a trend of differentiated development in the second quarter, with three price segments—below RMB1,000($137.06), RMB2,000-RMB3,000($274.12-$411.19), and above RMB5,000($685.31)—experiencing significant year-on-year growth in shipment volume.

IDC predicts a 5.6% year-on-year growth in the shipment volume of the adult wristwear market in 2023, with an expected increase of 3.0% for adult smartwatches and 9.3% for smart bands.

In addition, as smartphone manufacturers strive to make breakthroughs in the high-end market with foldable screens, it will also boost the development of smartwatches.

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