Smartwatch shipments in India declined for the first time in 2024, as consumers shifted away from lower-end brands. However, Apple saw a notable 2.4x growth during the same period.
According to data from analyst firm Counterpoint, India experienced a 30% decrease in smartwatch shipments in 2024. This decline was attributed to an influx of lesser-known brands flooding the market, impacting both established local players and innovation within the industry.
Despite the overall market downturn, Apple Watch defied the trend with a 141% increase in shipments. This growth marked a significant turnaround from the 57% decline the company saw in 2023, as reported by Counterpoint.
Anshika Jain, a senior analyst at Counterpoint, mentioned to TechCrunch that the increase in Apple Watch sales was driven by experienced users migrating to more advanced smartwatches for enhanced health monitoring, smartphone connectivity, and other features lacking in cheaper alternatives.
She also noted, “We anticipate this trend to continue in 2025.”
The surge in Apple Watch shipments mirrors the growing popularity of iPhones in India. Apple solidified its position as one of the top-five smartphone vendors in the country last year, capturing approximately 10% market share in Q4.
Despite the significant growth of Apple Watch, it held only a minor share of the 35 million smartwatches shipped in India last year, according to IDC. Counterpoint estimated that the Apple Watch accounted for about 2% of India’s overall smartwatch market in 2024.
The success of Apple Watch drove an uptick in premium smartwatch shipments (priced above $230) in India, registering a remarkable 147% growth. The Series 10 emerged as the top-selling model, followed by the Series 9. Apple Watch captured a 50% share of the total premium smartwatch segment in India, according to Counterpoint.
In the premium segment, Samsung and OnePlus were also key players, holding 4% and 1% market share, respectively, in the previous year.
