The global smartwatch industry has demonstrated resilience and growth in the third quarter, defying the decline experienced in the worldwide smartphone sector. This is based on the newest Global Smartwatch Model Tracker by Counterpoint Research.

According to the report, there was a 9% surge in worldwide smartwatch consignments during this period. The robust performance in India and Huawei's significant bounce-back in China are pointed out as the primary propellers of this growth.

The basic smartwatch sector in India, which maintains its lead, accounted for 35% of all worldwide shipments. Fire-Boltt, a domestic brand, set a record for its highest quarterly consignments ever during this period.

In the High-level Operating System smartwatch sector, there was a notable expansion, primarily driven by Huawei. The recent unveiling of new Huawei smartphones and smartwatches along with the bundled sales channels contributed to the rise in smartwatch consignments.

Counterpoint Research outline a 56% year-on-year growth for Huawei, with an exceptional 122% surge in HLOS smartwatches. This exponential growth trajectory is linked to the uptake of its Watch 4, Watch 4 Pro, and the Watch GT 4.

Interestingly, Huawei's growth seems to have negatively impacted Samsung, which recorded a 19% drop in year-on-year consignments. Apple, on the other hand, had an impressive third-quarter performance with a 7% year-on-year growth in consignments, largely attributed to the Apple Watch SE.

Despite all these movements, Apple remains the industry leader, accounting for 45% of the market share, followed by Samsung 18%, Huawei 14%, and Others 23%. However, Samsung may drop to the third position if Huawei continues with the current momentum.