Recently, the market research firm Counterpoint released its global smartwatch market report for the third quarter of 2020.
Figure 1: Global smartwatch shipment share by brand Q3 2020 vs Q3 2019
The report shows that the smartwatch shipments in the third quarter of 2020 increased by 6% year-on-year, with the top 5 brands accounting for over 66% of total shipments. The top 3 global smartwatch brands are Apple, Huawei, and Samsung, with BBK Electronics in fourth place.
Figure 2: Smartwatch shipment share by region
In terms of market performance in different regions, the report indicates that in the third quarter of 2020, China surpassed North America to become the market leader. Previously, China’s children’s smartwatch market accounted for over 70% of the global market, and now the general smartwatch market is also beginning to show growth; India’s smartwatch shipments increased by 95% year-on-year, accounting for about 4% of the market share, followed closely by the Middle East, Africa, and Latin America, where the Indian local brand Noise is experiencing rapid growth, while the Chinese brand realme’s Watch launched in India in the third quarter also performed well.
When it comes to smartwatches, in 2020, major smartphone manufacturers in China have also been making efforts, but many new products are often jokingly referred to as “large wristbands.” How to define a smartwatch is subjective.Recently, due to the similar pricing yet different naming of two models,Redmi Watch and Honor Band 6which one to choose, our colleagues have also experienced both for a while.
In terms of common features such as exercise tracking, NFC access control, and sleep monitoring, our colleagues believe that the Honor Band 6 NFC version offers better value for money, additionally supporting blood oxygen saturation detection.On the other hand, the Redmi Watch mainly features a square dial that resembles mainstream smartwatches, while the Honor Band 6, although it promotes a full-screen wristband, adopts a rectangular dial, which may affect user preference.
As a supplement, the Redmi Watch is priced at 299 yuan, while the Honor Band 6 NFC version is priced at 289 yuan. Which one do you prefer?
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