Xiaomi Smartwatch Sales Rise as Apple Faces Its First Drop

The global smartwatch market has hit an unexpected roadblock in 2024, recording its first-ever annual decline. According to Counterpoint Research, smartwatch shipments dropped by 7% year-over-year, signaling a shift for an industry that had enjoyed consistent growth for over a decade.

Apple Leads But Suffers a Sharp Decline

Despite maintaining its position as the world’s top smartwatch brand, Apple experienced a steep 19% drop in shipments. This decline highlights slowing demand, longer upgrade cycles, and possible saturation in key markets. Apple’s downturn played a major role in the overall market slowdown.

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Huawei Climbs to Second Place With Strong China Performance

While Apple struggled, Huawei surged ahead, securing the second position globally with an impressive 35% year-over-year growth. This rapid ascent was largely driven by China, which became the largest smartwatch market in the world for the first time. Huawei’s diverse product lineup, catering to premium users, kids, and budget-conscious buyers, fueled its expansion.

Samsung Holds Strong, Xiaomi Sees Explosive Growth

Samsung remained resilient, securing third place with a 3% rise in shipments, thanks to the success of its Galaxy Watch7 and Watch Ultra models.

However, the biggest surprise came from Xiaomi, which recorded a staggering 135% shipment increase. Xiaomi’s aggressive pricing strategy and feature-packed wearables resonated well with consumers, positioning it as a formidable player in the market.

India’s Slowdown Hits Global Market Hard

One of the biggest reasons behind the market decline was India, which had previously been a key growth driver. The Indian smartwatch market cooled due to a slower replacement cycle, lack of compelling upgrades, and disappointing experiences among first-time buyers.

In contrast, China’s market grew by 6% year-over-year, with brands like Huawei, Imoo, and Xiaomi leading the charge.

What’s Next for the Smartwatch Industry?

Despite the current downturn, analysts predict a gradual market recovery in 2025, driven by AI-powered features and advanced health monitoring in next-generation smartwatches. With major brands focusing on smarter fitness tracking, better battery life, and AI-driven capabilities, the market is expected to bounce back in the coming years.

Final Thoughts

The smartwatch industry is at a turning point, with shifting consumer demand and market dynamics reshaping its future. While Apple faces headwinds, Huawei and Xiaomi are gaining momentum, setting the stage for an exciting 2025.