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Samsung becomes the 2nd largest distributor of wearables in Europe

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Samsung Electronics Co. became the 2nd largest distributor of wearables in Europe in the first quarter of 2021, although its market share fell as rival Apple Inc. expand its presence. 

The latest report from market research firm International Data Corp. (IDC) said that Samsung’s market share in the European market in the period from January to March 2021 stood at 16.1%, down from 16.8% in the same period last year.

The Korean tech giant sold 3.5 million wearables in Europe in the first quarter of 2021, up 27.2 percent from a year ago.

Meanwhile, Samsung’s rival Apple has increased its dominance in the European market as its market share in the first quarter of 2021 increased to 35.6% from 30% a year ago, to 7.8. million wearable devices were sold during this period, up 57.8% year-on-year.

Xiaomi Corp. and Huawei Technologies Co. of China ranked third and fourth with market shares of 11.5% and 6.6% respectively. A total of about 22 million wearable devices were sold in Europe in the first three months of 2021, including 11.7 million headsets and 6.9 million smartwatches.

IDC forecasts that the wearables market in Europe will reach 168.4 million units in 2025, with a compound growth rate of 12.9% during 2020-2025.

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