Global smartwatch sales drop, Apple struggles while Xiaomi and Huawei gain

Apple Watch

Apple, Samsung, Huawei, Xiaomi are the go to brands for smartwatches, however, in 2024 their sales went down. It dropped by 7 per cent, as per a report by Counterpoint Research. Even Apple saw its shipments shrink by a massive 19%. Meanwhile, China stepped up, grabbing the biggest share of the market for the first time, powered by brands like Huawei, Xiaomi among others.

As per the report, the biggest issue is that people just aren’t upgrading their watches as often, especially in India. Budget smartwatches were flying off the shelves a couple of years ago, but now, many users don’t see a reason to buy a new one. The lack of exciting upgrades isn’t helping either. Apple had an especially rough time in North America—no Apple Watch Ultra 3, only minor updates to the Watch 10 series, and even some legal troubles that slowed down shipments.

But it wasn’t bad news for everyone. Samsung actually grew by 3%, thanks to its Galaxy Watch 7 and Galaxy Watch Ultra. Xiaomi had an even bigger win—it broke into the top five smartwatch brands for the first time ever, with its Watch S1 and Redmi Watch models doing great worldwide.

One surprising bright spot was the Kids’ smartwatches. More parents want to keep track of their children, and brands are stepping up to meet the demand. Imoo is leading the charge with affordable, feature-packed smartwatches, while brands like Noise, boAt, and Fitbit are also expanding into this space.

Experts think the market will slowly bounce back in 2025, but it won’t be a rapid comeback. The future of smartwatches is all about AI and health tracking. Companies are working on advanced sensors to detect serious conditions like heart issues, sleep apnea, hypertension, and even early signs of diabetes. Plus, they’re pushing for regulatory approvals to make these features more reliable.