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A new Basic Watch & Premium Watch analytical report published late yesterday claims that the global Basic watches and smartwatches, categorized under wristwatches, grew 46.6% and 9.3% respectively. Basic bands suffered a big 35.5% decline in Q2 2022.

Apple continues to dominate the global wristwatch market with a 26% market share. Samsung overtook Huawei with solid growth of 58%, shipping 2.8 million smartwatches despite the much-anticipated launch of its Galaxy Watch 5 series in Q3 2022.

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“The latest releases from Samsung and Garmin and expected releases from Apple and Google in the coming months are intensifying competition among premium smartwatches. Smartwatch users are better informed about smartwatches and will choose the devices that offer the best tracking capabilities for their intended use cases, for general health tracking or sports performance tracking.”'

“The premium user experience extends from attractive designs and good build quality to intuitive software, seamless ecosystem integration and effective health tracking. For more on Apple's competitor stats, read the full Canalys report.

For the latest news on Apple Watch, see our report titled "Apple introduced their new Premium 'Apple Watch Ultra' that is Aimed at the Extreme Sport and Recreational Diving Markets." News on Apple's new Apple Watch 8 and SE models are covered in Apple's latest press release here.