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Garmin closes the gap on Samsung as its smartwatch sales soar in Q1

Garmin Marq

Garmin was the fastest growing of the major smartwatch manufacturers in the first quarter as key models launched last year hit the mark.

Garmin shipments grew by 37.5% to 1.1 million units in Q1, according to research firm Strategy Analytics.

That increased its market share from 7% to 8% in a league table topped by Apple with 55% of the market and Samsung with 13.9%.

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Source: Strategy Analytics.

Garmin not only launched key new models last year including the Venu with a colour touchscreen and the premium MARQ family, it also reached out to jewellers as potential retail partners.

Beaverbrooks has been a notable early success where Garmin’s smartwatches are sold alongside models from Michael Kors and TAG Heuer.

“Garmin returned to third position for the first time in two years and shipped 1.1 million smartwatches worldwide in Q1 2020, leaping an impressive 38% annually from 0.8 million in Q1 2019.

“Garmin has grown from 7% to 8% global smartwatch market share in the past year. Enhanced new models, such as the Venu with OLED color touchscreen, are proving popular with sports and fitness fans across North America and elsewhere who like to track their daily activity,” says Neil Mawston, executive director at Strategy Analytics.

Source: Strategy Analytics.

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Rob Corder

The author Rob Corder