Global Smartwatch Shipments Saw First Ever Decline with Apple Biggest Looser

After continuous growth, the demand for smartwatch has started decreasing. In 2024, the speed of the Smartwatch industry has a brake and global shipment has seen a 7 percent decline. This is the first time that this industry has seen a decline. However, there is still a demand for smartwatch in China and it has surpassed North America and India to achieve the biggest share in global smartwatch shipments.

Why the demand decreased?

According to counter point research, there are many reasons for a decline in demand for smartwatch. The biggest reason for this is the poor performance of Apple. Actually, Apple Watch’s latest series could not attract people. Because of this, people in many areas including North America did not upgrade their old smartwatch with Series 10 Watchage. Apart from this, the demand in the basic smartwatch category in India has also decreased.

Apple damage, Samsung benefits

Apple is still the largest company in smartwatch shipment, but has faced a 19 percent decline on an annual basis. Apple is the strongest in North America, but here too people have decided to wait till the next upgrade instead of buying the latest smartwatch of the company. On the other hand, Samsung has strengthened its position during this period. Due to the Galaxy Watch lineup, the company’s shipment has increased by 3 percent on a annual basis.

Xiaomi fastest

More Xiaomi has strengthened its position than Samsung. The company became the fastest growing company of 2024 and has managed to make its place in the top 5 smartwatch companies for the first time. The company has added many new products to the smartwatch portfolio and its Watch S1 and Redmi Watch are very much liked by the people.

Kids smartwatch demand also increased

The latest figures show that the demand for smartwatch for children has increased. This category dominates brands like IMOO. People are buying smartwatch to stay connected to their children and trek them. In view of the increasing size of this category, companies like Noise, BOAT, and Fitbit have also started bringing smartwatch for children.

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