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Samsung Electronics Co. took 7.2 percent of the global smartwatch market share in the first six months of the year, down 2.1 percentage points from a year earlier to drop from second to the fourth spot.
According to Counterpoint Research, while Samsung faced some headwinds in the first half, the launch of its Galaxy Watch 3 in the second half could boost demand for it.
Meanwhile, the company's competitors expanded its presence in the fast-growing market.
Apple Inc. dominated the first half by taking a 51.4 percent market share, up 8.2 percent from last year.
US-based Garmin Ltd. moved up from third to second place with 9.4 percent market share, up 0.5 percent from last year.
China's Huawei Technologies Co. also advanced from fourth to third place with 8.3 percent market share, up 2.8 percent from a year ago.
The global smartwatch market saw 20 percent revenue growth in the first half of the year despite the pandemic, with shipments reaching nearly 42 million units, Counterpoint Research said.
The Apple Watch Series 5 topped sales among smartwatches in the first six months, trailed by the Apple Watch Series 3.
Huawei Watch GT2 came in at the third spot.
