The smartwatch market isn't quite as red-hot as it looked in recent months. IDC estimates that smartwatch shipments fell by just shy of 52 percent year-over-year in the third quarter of 2016, with the biggest names often being the hardest hit. Apple was still the top dog, but its shipments fell almost 72 percent to 1.1 million. Samsung's shipments were virtually flat, while Lenovo and Pebble saw their unit numbers drop sharply. Interestingly, the only company in the top five to see a big surge was Garmin -- its shipments more than tripled to 600,000. Should the industry be worried? Not necessarily.