Tracker: VALUE SHARE: Global Smartwatch Revenue and ASP by Vendor by Price Tier: 2024 Q1
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Global smartwatch revenues shrunk by 1.5% in Q1 2024 due to declining shipment volumes as well as shrinking ASPs caused by macroeconomic weakness and geopolitical uncertainty limiting consumer demand and discretionary spending. This comes after a slight Q4 ASP decline, preceded by several quarters of rising ASPs due to new models like Apple Watch Ultra, Google Pixel Watch, and Huawei Watch 4 driving wholesale average selling prices upwards, in addition to supply constraints and soaring inflation bringing up component costs. Being met with limited success in ultra high-end smartwatches, vendors are focused on the sub-US$500 (wholesale) segment. Our extensive report tracks global smartwatch revenues, price, and price-bands for all leading vendors by quarter from 2013 to 2024.
