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Global smartwatch shipments dipped 7% in 2024 compared to the year prior. This is the first time since the original Apple Watch model debuted in 2014 that the market has seen any decline.
Based on data from the market research firm Counterpoint, Apple was hit hard by sluggish sales numbers. Compared to 2023, the Cupertino King shipped customers 19% fewer Apple Watch units. That’s quite the drop.
Why are Apple Watch sales dropping?
| Header Cell - Column 0 | Market share 2023 | Market share 2024 | YoY % change in shipments |
|---|---|---|---|
Apple | 25% | 23% | -19% |
Samsung | 8% | 9% | +3% |
Huawei | 9% | 13% | +35% |
Xiaomi | 3% | 8% | +135% |
Imoo | 5% | 6% | +22% |
"Other" | 50% | 42% | -22% |
Source: Counterpoint Research Global Smartwatch Shipments Tracker by Model, Q4 2024
Blame it on the highly-anticipated Apple Watch Ultra 3 failing to materialize or the fact that the tenth-anniversary Apple Watch — the only new release we did get in 2024 — isn’t all that different from the Series 9 that came before it, even if it is the best smartwatch you can buy today.
Apple’s patent dispute with Masimo — which Apple recently effectively won — over the brand’s blood oxygen sensor tech also hurt sales early in 2024. For a short time, sales of the Series 9 and Ultra 2 were banned in the U.S.
Finally, Apple has yet to meaningfully incorporate Apple Intelligence features into the Apple Watch (though AI-generated notification summaries are pretty sweet).
All this adds up to a lack of excitement surrounding the Apple Watch. And without something truly groundbreaking or eye-popping in the pipeline for this year, I suspect Apple will continue to see its sales numbers shrink.
That said, with rumors pointing to a forthcoming Apple Watch Ultra 3 that could sport a larger display, significant battery life improvements, and high blood pressure warnings, along with a potential Apple Watch SE 3 at a more wallet-friendly price point, don’t count Cook and Co. out just yet.
Some smartwatch brands saw growth
On the flip side, Samsung noted a slight uptick in smartwatch sales of 3%. Google, meanwhile, was absent from the report.
Smartwatch makers focused on budget-friendly models managed to fare even better. The Chinese manufacturer Huawei, for instance, shipped 35% more devices in 2024 than in 2023. Xiaomi, meanwhile, noted a massive 135% increase in smartwatch sales.
While both manufacturers have a modest presence in the U.S., they’re selling smartwatches like hotcakes in other markets, most notably in Asia.
According to Xiaomi, the wallet-friendly Xiaomi Redmi series — which starts at around $50 — and the higher-end Xiaomi S1 proved especially popular.
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