Global smartwatch gross sales fall for first time | EUROtoday

Global gross sales of smartwatches have fallen for the primary time, new figures point out, largely attributable to a pointy decline within the reputation of market chief, Apple.

Market analysis agency Counterpoint says 7% fewer of the units have been shipped in 2024 in comparison with the 12 months earlier than.

Shipments of Apple Watches fell by 19% in that interval, Counterpoint says.

It blames the droop on a scarcity of recent options in Apple’s newest units, and the very fact a rumoured high-end Ultra 3 mannequin by no means materialised.

“The biggest driver of the decline was North America, where the absence of the Ultra 3 and minimal feature upgrades in the S10 lineup led consumers to hold back purchases,” mentioned Counterpoint senior analysis analyst Anshika Jain.

Apple was additionally hit with gross sales and import bans within the US in late 2023 and early 2024 over a disputed patent relating to blood oxygen stage monitoring – which Ms Jain says additionally contributed to decrease gross sales figures within the first half of 2024.

It retained 22% of market share within the closing three months of 2024, down from 25% a 12 months earlier.

Despite the general decline, final 12 months did see a large rise in gross sales for Chinese-made smartwatches from manufacturers akin to Xiaomi, Huawei and Imoo.

Sales in China additionally grew from 19% of the market to 25% within the 12 months from the final quarter of 2023.

This was the primary time it recorded extra smartwatch gross sales than India or North America, in response to Counterpoint.

“Huawei, Imoo and Xiaomi were the front runners of the China market,” mentioned Ms Jain.

The Chinese producers additionally appeared to faucet into one other development – the rising reputation of smartwatches for youngsters, the one section of the market to develop in 2024.

Imoo, identified in China as “Little Genius”, specialises in kids’s good watches and noticed a 22% rise in shipments.

“The kids’ smart watch segment is gaining traction as parents are concerned for their children’s safety, and they desire to track and stay constantly connected with their children,” Counterpoint’s Balbir Singh mentioned.

But Imoo was eclipsed by a 135% rise in shipments from Beijing-based tech firm Xiaomi.

Its Smart Band exercise trackers promote for a fraction of the value of rivals made by Apple and Samsung.

Another giant contributor to the worldwide gross sales drop was India, which fell from 30% of the market to 23%.

Counter says it expects a small restoration with “single-digit percentage growth in 2025”.

It predicts the uptick in gross sales shall be pushed by the rising adoption of AI options, and a larger emphasis of offering a wider vary of well being knowledge.