Huawei has ranked first in the country's wearable market with solid performance of wearable watches, showing strong growth momentum despite the downward trend of China's wearable market in the first quarter of this year, Sina Finance reported on Tuesday.
With a 24.3 percent market share, Huawei topped the list of China's top 5 wearable equipment manufacturers in terms of shipments, market share and year-on-year growth rate, followed by Xiaomi and Apple.
The shipment of China's wearable market was 17.62 million units in the first quarter of 2020, down 11.3 percent year-on-year according to the quarterly report on China's wearable equipment market by global market consultancy IDC.
Shipments of basic wearable devices, which refer to wearables that do not support third-party applications, fell 5.5 percent year-on-year to 14.86 million units, while shipments of smart wearables witnessed a 33.3 percent decrease year-on-year to 2.76 million units, the report said.
China's wearable equipment market was characterized by reverse-trend growth in earphone and watch markets, consumers' sensitivity in price and increasing importance in channel operation capability in Q1.
In the first quarter of 2020, shipments of the wearable earphone market grew 26.5 percent year-on-year, while shipments of the adult wearable watch market grew 8.4 percent on a yearly basis, the report said.
China's wearable market is projected to grow 17.4 percent in 2020, with 47.7 percent growth in the earphone market and 37 percent increase in adults' watch market, according to the report.