APPLE HAS LOST its lead position in the wrist-worn device market, which includes smartwatches and wristband products, to Chinese brand Huawei, according to data from IDC.
In the first nine months of 2024, Apple shipped 22.5 million wrist-worn devices with a market share of 16.2% compared to Huawei's 23.6 million shipments and a market share of 16.9%.
"Since the beginning of this year, Huawei has achieved continuous and stable growth in the Asia-Pacific, Latin America, West Asia, and Africa markets by strengthening its localization strategy and building a global brand image," IDC said in a report.
According to analysts at IDC, competition in smartwatches worldwide pushed Apple to second position.
The company faced challenges from wrist-worn products launched in different price segments.
This story is from the December 20, 2024 edition of Financial Express Lucknow.
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This story is from the December 20, 2024 edition of Financial Express Lucknow.
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