Global sales of smartwatches took a hit for the first time last year, with figures showing a decrease in shipments, mainly due to a drop in demand for Apple watches. Market research firm Counterpoint reported a 7% decline in smartwatch shipments in 2024 compared to the previous year, with Apple’s shipments dropping by 19%. This decrease was attributed to the lack of new features in Apple’s latest devices and the absence of a rumored high-end model.
In addition, Apple faced challenges in the US due to sales and import bans linked to a disputed patent on blood oxygen level monitoring. Despite these setbacks, Chinese smartwatch brands like Xiaomi, Huawei, and Imoo saw a surge in sales in 2024, particularly in China, where smartwatch sales surpassed India and North America for the first time.
Children’s smartwatches also gained popularity, with Imoo, known as “Little Genius” in China, specializing in this segment and experiencing a 22% increase in shipments. Xiaomi, on the other hand, saw a whopping 135% rise in shipments, thanks to its affordable Smart Band activity trackers.
Overall, the smartwatch market is expected to see a slight recovery in 2025, driven by the adoption of AI features and an increased focus on health data. The industry is evolving, with new trends and players shaping the market’s landscape.
Vocabulary List:
- Shipments /ˈʃɪp.mənts/ (noun): The act of sending goods to a destination or the goods sent.
- Decline /dɪˈklaɪn/ (verb): To become smaller fewer or less; to diminish.
- Demand /dɪˈmænd/ (noun): The desire for a product or service coupled with the ability to pay for it.
- Absence /ˈæb.səns/ (noun): The state of being away or not present.
- Surge /sɜːrdʒ/ (noun): A sudden powerful forward or upward movement.
- Adoption /əˈdɑːp.ʃən/ (noun): The action of taking up or starting to use something new.
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