The Apple Watch and Galaxy Watch 3 were very popular last quarter

Perhaps more impressive is the fact that this number represented an increase of 18% over Q3 2019, suggesting customers are favoring pricier models over older ones such as the Apple Watch Series 3.

Apple will undoubtedly continue as the market leader in the current holiday quarter. The Apple Watch SE and Watch Series 6 only hit shelves towards the end of September, so the full impact of their release is yet to be felt.

Huawei found success with its kid-focused devices

Huawei followed in second place last quarter with an impressive 15% of global smartwatch shipments. Counterpoint says its latest products have been performing well, although its kids-focused devices are the true winners.

Unlike its extensive smartphone lineup, Huawei’s smartwatches and other wearable products haven’t been impacted by recent US trade sanctions from a software point of view.

Counterpoint hasn’t detailed the brand’s performance by region, but China should be the most important one. Europe likely follows in second place, although a drop in local demand could soon be felt as Huawei’s brand continues to weaken.

The Galaxy Watch 3 has turned Samsung around

Samsung managed to outperform other brands and hold onto its position as the third-largest smartwatch brand. It accounted for an impressive 10% of sales last quarter, up from 8% a year earlier.

The South Korean company stagnated in the first half of the year, but it massively rebounded in the third quarter, per Counterpoint Research, with the launch of the Galaxy Watch 3, which appealed to customers looking for something more premium.

On the topic of revenue, Samsung is said to have grown its number 59% year-on-year and Counterpoint expects that strong momentum to continue throughout the current quarter. 

As we enter the new year, demand for Galaxy smartwatches will probably slow down. The main reason for this being that new models aren't expected to launch until summer 2021 at the earliest. 

China is now the largest market, but India is the fastest-growing region

Chinese giant BBK became the 4th largest manufacturer by volume with its popular Imoo brand. In 5th place was Fitbit, which is being acquired by Wear OS creator Google.

On the topic of regions, China surpassed North America to become the largest smartwatch market in the world — it accounted for over 30% of shipments last quarter.

Europe followed North America, and these were followed in descending order by Asia Pacific, India, the Middle East and Africa, and Latin America. India was the fastest-growing region with shipments growing 95% thanks to the drastic expansion of smartwatch lineups.