AI研究所·2025-06-06 10:21Core Viewpoint - The competition among smartphone manufacturers in the smartwatch market is intensifying, with companies like Xiaomi, Huawei, and Apple launching new products to capture market share amid declining smartphone sales [1][2][4]. Group 1: Market Dynamics - The global smartphone market has seen a continuous decline, with a year-on-year drop of 8% in Q3 2023, marking the worst performance in nearly a decade [5]. - In contrast, the smartwatch market is thriving, with a year-on-year growth of 13% in Q2 2024, indicating a shift in focus for smartphone manufacturers [5]. Group 2: Ecosystem Development - Building a complete ecosystem is crucial for tech giants, with smartwatches becoming an integral part of this strategy due to their connectivity and user engagement [6]. - Apple has sold over 300 million Apple Watches since its launch, creating a strong ecosystem that enhances user loyalty and experience [7][9]. - Huawei's smartwatches, like the WATCH FIT 3, leverage the HarmonyOS to provide seamless integration with other Huawei devices, enhancing user convenience [11]. - Xiaomi's smartwatches contribute to its IoT ecosystem, with a 20.3% year-on-year revenue growth in IoT and lifestyle products, driven by wearable devices [12]. Group 3: Supply Chain and Profitability - Smartphone manufacturers have inherent advantages in supply chain management when entering the smartwatch market, allowing them to reduce costs through existing supplier relationships [14][15]. - Key components like chips and displays are shared between smartphones and smartwatches, enabling manufacturers to leverage their established supply chains for competitive pricing [14][18]. - Apple's proprietary S-series chips provide a performance edge for its smartwatches, while Huawei focuses on developing its Kirin chips to enhance performance and reduce dependency on external suppliers [18][20]. - Market share expansion is vital for long-term profitability, as it allows manufacturers to achieve economies of scale and improve bargaining power with suppliers [21]. - The smartwatch market also offers opportunities for software and service revenue, with companies like Apple and Huawei expanding their ecosystems through paid applications and services [22]. Group 4: Future Outlook - The global smartwatch market is projected to grow, with a 13% year-on-year increase in Q1 2025, driven by various price segments [23]. - In China, the fastest-growing price segments for smartwatches are between ¥500-1000, ¥1000-1500, and ¥1500-2000, with growth rates of 83.1%, 112.3%, and 77.0% respectively [23]. - The competition in the smartwatch market will hinge on meeting user needs, optimizing ecosystems, and innovating business models to succeed in this emerging market [24].