The smartwatch market saw a global growth of 4% year-over-year in the first quarter of 2026, contrasting sharply with the performance of Samsung's Galaxy Watch series. According to a report by Counterpoint Research, shipments of the Galaxy Watch declined by 28% year-over-year, resulting in a market share drop from 7% in Q1 2025 to just 5% in Q1 2026.
While Samsung struggled, competitors fared better; shipments of the Apple Watch increased by 21%, fueled by sales growth in China and Europe. Other brands such as Huawei, Xiaomi, and imoo also reported gains, with Huawei at 12%, Xiaomi at 9%, and imoo at 2%. Only the “Others” category, which includes brands like Google’s Pixel Watch, experienced a decline of 3%.
Looking ahead, Samsung plans to unveil its next generation of smartwatches, the Galaxy Watch 9, in July, coinciding with the launch of new foldable devices. However, the company faces significant challenges in regaining its footing in the competitive smartwatch market.