Apple Smartwatch Shipments Drop 19% Globally in 2024, India Remains a Rare Bright Spot

Apple Smartwatch shipments may not be going as strong as expected. The company saw a sharp decline of 19% year-on-year (YoY) in 2024 in its global smartwatch shipments, according to Counterpoint Research’s Global Smartwatch Shipment Tracker (Q4 2024). This marks the second year in row of decline for Apple in the smartwatch category, at the time when the broader advanced smartwatch market showed growth.

The report points out the downturn was largely led by a sharp decline in North America, which is Apple’s biggest market for smartwatches. The region backs more than half of Apple’s global smartwatch shipments, and a drop in demand there had a significant impact on the company’s overall performance, highlighted the report. Other regions also recorded a drop in sales, except India, where Apple continued to grow.

India Defies the Trend

Despite the global slowdown, India stood as the only major market where Apple’s smartwatch shipments saw a year-on-year growth in 2024. This was mainly due to the increasing demand for wearables, expanding premium smartphone usage, and growing interest in health-focused tech by Indians. India serves as one of the major markets for Apple. This is why the company has been increasing its local investments and retail presence in the country, including the opening of its first official Apple Stores in 2023.

Key Factors Behind The Decline in Sales

One of the key factors behind Apple’s global decline was fewer substantial upgrades in its latest smartwatch lineup. The Apple Watch Series 10, launched in 2024, received only minor updates, which may have resulted in lower consumer interest. Moreover, no new versions of the popular Watch Ultra and Watch SE were introduced during the year, as highlighted by the report also. 

The Watch Ultra 3, Apple’s most premium wearable, usually holds over 10% of its total smartwatch shipments. In Q4 2024, its share dropped to under 8%. Similarly, the Watch SE, Apple’s most affordable model, did not see a refresh since Q3 2022. The lack of a new SE model, especially in price-sensitive markets, likely affected sales.

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