Smartwatch shipments in India dipped annually for the first time in 2024, as consumers moved away from cheap, unknown brands. Apple bucked the broader trend, however, with a reported 2.4x growth for the year.
According to data from analyst firm Counterpoint, India’s smartwatch shipments dropped 30% year-on-year in 2024. Signs of slowing sales emerged last year, as the market was flooded with unknown brands. The trend aversely impacted established domestic players, slowing the pace of innovation as a result.
As the broader market faltered, Apple Watch saw a 141% increase in its shipments last year. That growth bucked a 57% decline for the company in 2023, according to Counterpoint.
Counterpoint senior analyst Anshika Jain told TechCrunch that the Apple Watch saw an uptick last year as, “some experienced users gradually moved to advanced smartwatches” for better health insights, smartphone integration, and other features absent on cheaper devices.
“We expect this growing trend to continue in 2025,” she added.
The growth in Apple Watch shipments aligns with the iPhone’s expanding market share in the country. Apple emerged as one of the top-five smartphone vendors in India last year, with a roughly 10% share in in Q4.
However, Apple Watch’s sizable growth ultimately had little impact on its overall share of the 35 million smartwatches shipped in India last year, according to IDC. Counterpoint, which does not share absolute shipment figures, told TechCrunch that the Apple Watch comprised roughly 2% of India’s entire smartwatch market in 2024.
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Apple Watch’s success boosted overall premium smartwatch (priced above $230) shipments in India, with 147% growth. The Series 10 was the top model, followed by the Series 9. The Apple Watch cumulatively captured 50% of the total premium smartwatch segment in the country, per Counterpoint.
Samsung and OnePlus were the other top players in the premium segment last year, with a 40% and 4% market share, respectively.
