IDC: CN Wearables Shipment Rises 17% YoY in 2QChina's wearables market shipped 33.5 million units in 2Q23, a 17.3% YoY increase and the largest quarterly shipment volume since 2022, according to a report by market research firm IDC.
Despite not returning to 2021 shipment levels, the wearable market is starting to see green shoots in demand on the back of a resurgence in outdoor and travelling activities, coupled with price reductions for a number of mainstream models in the middle of the year, and the market is showing an overall recovery.
China shipped 9.42 million smartwatches in 2Q23, an 11.5% YoY increase.
Demand for adult smartwatches was boosted by price reductions in the mid-year promotions of flagship models.
During the period, 4.63 million smart bracelets were shipped, representing a 20.9% YoY growth.
Shipments of earpieces amounted to 19.33 million units, representing a YoY growth of 19.5%.
The adult wrist wearables market is further concentrated among the three leading players, namely Huawei, Xiaomi and Apple, which are showing stronger growth due to higher brand recognition and promotional pricing advantages.
IDC expects shipments of adult wrist wearables to grow by 5.6% YoY, with shipments of adult smartwatches growing by 3% and bracelets by 9.3%.
Source: AAStocks Financial News
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