Canalys has released its report on the global wearables market for Q4 and full-year 2022. The numbers revealed 50 million units shipped between October and December, which was a whopping 18% drop, the biggest since data is collected and analysed.
All five of the major companies — Apple, Xiaomi, Huawei, Samsung and Google — reported year-on-year declines in shipments over the holiday period, and only Cupertino saw year-on-year growth for the full calendar year.
Canalys cited the “challenging macroeconomic environment in the fourth quarter” as the main reason for the decline across the board. Apple remained the runaway leader, being the default choice for all iPhone users, while Google managed to stay in second place thanks to the Pixel Watch, despite Fitbit devices dropping 25%.
Canalys divides wearables into three categories: basic band, basic watch and smartwatch. The differences between them are getting murkier with each new device, and Canalys said smartwatches will grow by about 10%; however, declining interest in basic bands would lead the total wearables market to a modest 2% increase.
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