Samsung Earns 71% Market Share in the Smartwatch market for Q1 in 2014

Samsung is one of the early movers in the world of wearable watches that is expected to take off this year. Samsung has to their credit, released not just one generation, but two generations of its Gear line of smart watches. While neither of the two devices have touched the levels of success the Korean giants had initially thought of, given the relative nascent market Samsung has been able to capture a massive market share despite a lack of scintillating success.

Samsung Gear

According to a report released by Strategy Analytics, Samsung sold about 500,000 units of Galaxy Gear which helped it capture the smart watch market by about 71% by volume. The quarter saw, over 700,000 smart watches being sold which meant a growth of 250% YoY in Q1 2014 for the segment.

Obviously, the numbers are overwhelming, but given that the first Samsung smart watch has been around since last year, you would have expected be a little better numbers. However, there is no doubting that Samsung has captured a larger volume of market as its share during the last count was just around 52%. It is interesting to note that the data does not take into account the fact that the return rates of the Gear range of devices was approximately 30% which substantially lowers the net number of devices sold. However, for a line of devices that have been labelled as terrible flop, Samsung has most definitely got the numbers to bank their claims that Gear has been anything but that.

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