Back in 2019, Apple CEO Tim Cook said that Apple’s greatest contribution to mankind would be the innovations that the company is doing in health. At the heart of Apple’s health focused initiatives lies the Apple Watch. And it looks like the Watch is doing better than ever for the company. Apple has seen a new record when it comes to its Apple Watch Series, as the latest quarterly data by IDC shows that the company has sold a record high number of units in the third quarter of 2020.
According to the new data from IDC Worldwide Quarterly Wearable Device Tracker, the Apple Watch shipments reached 11.8 million units. Last year in the same quarter, the company sold 6.8 million units, recording a 75% year-on-year growth.
The IDC data suggests that the Apple Watch held 21.6% market share among wrist-worn wearables shipped worldwide last quarter, trailing in second behind Xiaomi’s estimated 24.5% market share, but this includes everything from high-end smartwatches to basic fitness trackers like Xiaomi’s Mi Band, which is priced under $50.
When it comes to the overall wearable market, Apple emerged as the market leader with an estimated 41.4 million devices shipped, which includes AirPods and AirPods Pro. This is up from 29.8 million units of the same quarter last year making the company achieve a 38.6% annual growth.
“AirPods along with Apple Watches were hugely popular due to pandemic driven demand,” IDC notes in its report. “Apple’s expanding Watch lineup also ensured that devices were available at multiple price points including new mid-level products such as the Watch SE.”
The global wearables industry continued to grow during the third quarter of 2020, as the market witnessed a 35.1% increase in the market year-over-year. In totality, the vendors shipped 125 million units in the third quarter of 2020.
“The surge was driven by seasonality, new product launches, and the global pandemic. New products from the likes of Apple, Samsung, and others helped renew interest in popular categories such as smartwatches and hearables. Meanwhile, consumer spend on electronics also increased during recent months as spending on travel, dining out, and other leisure activities decreased. This shift in spending was another catalyst for the wearables market,” added the report.