Global wearable band market up 0.2% in Q2 2024

Canalys reported that the global wearable band shipments grew 0.2% in Q2 2024 to 44.3 million devices. Basic watches continued to drive the market, with shipments up 6% year on year, largely thanks to Huawei and Xiaomi. Basic watches accounted for 48% of the wearable band market, their highest share yet. Smartwatch shipments remained static compared with Q2 2023, as the positive momentum from Samsung, Garmin, Huawei and Google offset Apple’s decline. Basic band shipments continued on their downward trend, falling 14% year on year.
“Basic watches continue to support the wearable band market,” said Canalys Research Manager Cynthia Chen. While last year’s strong basic watch growth came from local leaders in India, the latest growth was mainly driven by Huawei and Xiaomi, which accounted for 15% and 13% of global basic watch shipments respectively. “Both vendors did particularly well in Greater China, thanks to effective pricing strategies and incorporating premium fitness tracking into affordable basic watch models. The largest basic watch vendors have prioritized volume during recent quarters and will need to pivot toward brand awareness and positioning to realize their ambitions of moving upmarket. Strategic partnerships, such as Xiaomi’s ability to leverage Suunto’s advanced algo...