Apple and Global Smartwatch Sales Dropped by 19%

Global Smartwatch Sales Decline as Apple Shipments Drop 19%

Key Insights from Market Data

Global smartwatch sales declined by 7% in 2024, marking the first-ever drop in the industry. A major factor behind this downturn is the sharp fall in Apple Watch sales, down by 19%.

Why Did Smartwatch Sales Decline?

  • Apple’s Minimal Upgrades: The latest Apple Watch models lacked major new features. The expected Ultra 3 model never launched, reducing consumer interest.
  • North America’s Market Slump: Sales in North America fell due to weak demand for Apple’s S10 series, which had only minor improvements.
  • US Import Ban on Apple Watches: Apple faced sales and import restrictions over a patent dispute related to blood oxygen monitoring. This further impacted its market performance.
  • India’s Market Slowdown: India’s smartwatch market share fell from 30% to 23%, contributing to the overall global decline.

China’s Smartwatch Market Expands

  • China Overtakes North America & India: Chinese brands now hold 25% of the global market, up from 19% in late 2023.
  • Growth in Kids’ Smartwatches: Parent concerns about child safety boosted demand for children’s smartwatches, a segment led by Imoo, Huawei, and Xiaomi.
  • Xiaomi’s Rapid Growth: Xiaomi’s smartwatch shipments surged 135%, driven by budget-friendly smart bands.

What’s Next for the Smartwatch Industry?

  • 2025 Sales Recovery Expected: Analysts predict modest growth as AI features and advanced health tracking attract more buyers.

This shift highlights changing consumer preferences and rising competition from affordable smartwatch brands.

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