A new report from Strategy Analytics underscores Samsung’s dominant position in the emerging smartwatch market for Q1 2014.
According to the research, Samsung shipped 500,000 smartwatch units in the first quarter, commanding a 71.4% market share.
This shows strong growth from 2013 when Samsung held a 52.4% share of sales of 1 million smartwatches for the full year.
Total global smartwatch shipments for Q1 2014 reached 700,000 units, representing 36.8% of 2013’s 1.9 million unit sales. The market is forecasted to surpass 3 million units in 2014.
Samsung’s smartwatch momentum is being driven by devices like the Gear 2 and Gear Fit launched in April. Apple has yet to enter the market, though its rumored iWatch looms on the horizon.
For now, Samsung is capitalizing on being the early mover in smartwatches, combining its technological expertise with aggressive marketing.
However, the company will need to maintain rapid innovation to fend off increasing competition from Google, LG, Motorola, and others.
With wearables still in their infancy, Samsung has an opportunity to cement its leadership position. But in a nascent and evolving market, staying power will require introducing compelling new features and designs at a steady clip.