Benzinga | Aug 26, 2021 04:38PM EDT

Apple Maintains Numero Uno In Smartwatch, Loses Market Share: Counterpoint Research

* Apple Inc (NASDAQ:AAPL) continued to triumph the global smartwatch industry in Q2 as the sector's shipments expanded 27% year-on-year, Counterpoint Research reports.

* However, Apple's market share took a slight hit as Samsung Electronics Co Ltd's (OTC:SSNLF) shipment grew 43% Y/Y, and Garmin Ltd's (NASDAQ:GRMN) shipment rose 62% Y/Y.

* Huawei Technologies Co., Ltd's shipments dropped as it was affected by the smartphone business decline.

* Apple Watch's user base surpassed the 100-million mark for the first time in Q2 as the U.S. contributed to over half of its user base, with a close to 30% attach rate.

* The pandemic further triggered health-consciousness. Smartwatch features like SPO2 and heart rate monitoring have trickled down to the sub-$100 smartwatch segment.

* The sub-$100 smartwatch segment grew 547% annually, reflecting its mass presence.

* After North America, China, the second-largest market, noted a lower growth rate due to slower consumer spending and Huawei's fall.

* India's market share increased, driven by sub-$100 affordable, feature-rich smartwatches from China's Xiaomi Corp (OTC:XIACY) and OPPO and Indian brands like boAt and Noise.

* Price Action: AAPL shares traded lower by 0.13% at $148.17 on the last check Thursday.

* Photo by fancycrave1 from Pixabay