The worldwide smartwatch market skilled its first ever decline in 2024, falling by 7% in comparison with the earlier 12 months. Apple maintained its first place however skilled a big 19% discount in shipments. Huawei secured second place with a 35% surge in shipments due to a powerful Chinese language market and a various portfolio, starting from primary wearables, children’ smartwatches, and superior choices.
Samsung was third with a modest 3% improve in shipments due to the Galaxy Watch7 and Galaxy Watch Extremely lineups. Xiaomi’s 2024 smartwatch 12 months was sturdy with a 135% bounce in yearly shipments.
The principle purpose for the worldwide market decline was the Indian market, the place client demand diminished as a consequence of a sluggish substitute cycle, lack of innovation, and unsatisfactory consumer experiences amongst first-time patrons.
However, the Chinese language market was the largest international marketplace for the primary time. It grew by 6% year-over-year, recording its highest ever shipments. Huawei, Imoo (previously BKK), and Xiaomi had been the frontrunners.
The market is predicted to slowly recuperate in 2025 on the heels of elevated AI integration and superior well being monitoring in future smartwatches.
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