Apple Watch takes half of Q3 smartwatch shipments, $2.3 billion in sales

New research from Counterpoint says Apple Watch has extended its lead in the smartwatch market in Q3.

From the report:

Continuing their growth trajectory amid the COVID-19 pandemic, global smartwatch shipments increased 6% in Q3 2020 compared to the same period last year, according to the recently published Global Smartwatch Model Tracker of Counterpoint Research.

Apple remained the market leader, increasing its share by 2 percentage points compared to the previous year. It launched its first mid-tier smartwatch, the Apple Watch SE, during the quarter. Priced at less than $300, it received a lot of attention from the market. Huawei also managed to maintain its second position with a 15% share, thanks to the good performance of its newly launched models, especially the ones for children. With the successful launch of the Galaxy Watch 3, Samsung took the third position, overtaking BBK (Imoo brand) during the quarter.

The report notes that Apple achieved $2.3 billion in sales in Q3, nearly half of global smartwatch shipments and 18% more than the same period last year.

After seven quarters, North America has been surpassed by China as the biggest market region, and India as a market saw growth for the first time. The numbers mean Apple's market share is now 28%, more than Huawei and Samsung, the next two biggest competitors, combined.

Apple released both the Apple Watch Series 6 and Apple Watch SE in the quarter, the cheaper price point of the SE making many newer features more accessible by price point and no doubt contributing to Apple's success.