The worldwide smart-watch market numbers have been announced for Q1 2014 and Samsung Electronics Co., Ltd. (KRX:005930) came out on top, according to Strategy Analytics. Around 700,000 smart-watch units were sold for the quarter and 500,000 of them were made by Samsung. This gives Samsung a 71% marketshare.
This is a significant increase over the company’s performance in the previous year where it sold 1 million units overall with a marketshare of 52%. Samsung spent a lot of money and resources marketing the Samsung Galaxy Gear to get the number one spot.
These numbers account for sales and not the return rates, which are at around 30%. These numbers are particularly impressive because Samsung was only selling its first generations watch – the Galaxy Gear – back in Q1 2014. It did not launch the Gear 2, Gear 2 Neo, Gear Fit, or Gear Solo.
The brands that were behind Samsung were Sony and Pebble, which sold around 80,000 units each for an 11.4% marketshare each. Motorola and Qualcomm sold around 10,000 units each with an 1.4% marketshare each.