The recent Canalys report shows that Apple, Samsung, and other smart wearable manufacturers have faced a decline in sales in the fourth quarter of 2022.

The smart wearable products market has been growing steadily over the past few years. Apple, Xiaomi, Huawei, Samsung, and Google are some of the well-known names in the wearable device market that have played an important role in increasing the sales of these products. Nevertheless, the recent Canalys report indicates a significant decrease in the sales of smart wearable devices in the fourth quarter of 2022.

Canalys data shows that only 50 million wearable devices were released to the market between October and December 2022, indicating an 18% decrease compared to the same period the previous year. All five major wearable product manufacturers have experienced this decline in sales. Although Apple has continued to grow in terms of annual wearable device supply compared to the previous year, its sales record for the final quarter of 2022 also declined like other brands.

According to Gizmochina, Apple has maintained its position as the leader in the smart wearables market due to its high popularity among iPhone users. Despite a 25% decrease in sales, Google holds the second position on the list, while Xiaomi, Huawei, and Samsung all faced a decrease in supply during the 2022 holiday season.

Canalys categorizes wearables into health bands, basic watches, and smartwatches. However, the difference between these products is diminishing with the introduction of new models. According to Canalys' forecast, the supply of smartwatches is likely to grow by 10%, but the decline in people's interest in health bands will result in a 2% decrease in the overall wearables market. This is a highly competitive market in the technology industry, and companies are constantly striving to gain a larger share of it.

The smart wearable products market has faced a decline in sales in the fourth quarter of 2022