Smartwatch market competition heating up as demand booms

Competition in the smartwatch market is set to intensify amid the COVID-19 pandemic as leading companies from both China and abroad are vying to produce more affordable and functional wearables to attract consumers, said analysts and experts.

"Compared to the downturn seen in smartphone demand and many other segments in the first six months due to the devastation caused by COVID-19, smartwatches remain a popular consumer device segment," said Sujeong Lim, senior analyst at Counterpoint Research.

According to the consultancy, the global smartwatch market has seen 20 percent revenue growth in the first half with almost 42 million smartwatches being shipped during the period.