Apple Watch Soars as India’s Smartwatch Market Sees First Annual Decline

Smartwatch shipments in India dipped for the first time in 2024, marking a significant shift as consumers moved away from cheap, unknown brands. Apple, however, bucked the broader trend with a reported 2.4x growth for the year. This surge in Apple Watch shipments aligns with the company’s expanding market share in the Indian smartphone market, where it emerged as one of the top-five vendors in the country, capturing roughly 10% of the market share in the fourth quarter.

According to data from analyst firm Counterpoint, India’s smartwatch shipments dropped 30% year on year in 2024. The market was flooded with unknown brands, leading to a noticeable decline in sales. Experts observed slowing sales last year and the trend that negatively impacts established domestic players who have struggled to keep up with the pace of innovation driven by more sophisticated consumer demands. This trend has echoes in the U.S. market, where consumers increasingly demand higher quality and more features in their wearable devices, such as the Apple Watch.

Counterpoint senior analyst Anshika Jain noted that, “Some experienced users gradually moved to advanced smartwatches for better health insights, smartphone integration, and other features absent on cheaper devices.”

The Apple Watch saw a 141% increase in its shipments last year, which contrasts starkly with a 57% decline in 2023. This growth narrative also highlights Apple’s ability to capture niche markets and convert users of more affordable wearable devices to their premium offerings in countries like the U.S., where brand loyalty and product reliability are highly valued.

Given the premium nature of Apple Watches, it’s remarkable that they only constitute around 2% of India’s entire smartwatch market, per Counterpoint. Regarding these figures, senior analyst Anshika Jain remarks, “We expect this growing trend to continue in 2025.”

“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.” Counterpoint research reveals.”

The sustained popularity of higher-tier Apple Watch models, like the Series 10 and Series 9, indicates a strong demand for advanced features and reliability. This mirrors the U.S. market, where models like the Apple Watch SE and Ultra cater to various consumer segments by offering a range of health and wellness features.

The journey of the Apple Watch in the Indian market offers valuable insights into consumer behavior and market dynamics that are relevant to the U.S. wearables market. Samsung and OnePlus were the other top players in the premium segment last year, with a 4% and 1% market share, respectively, highlighting the intense competition and innovation in the wearable devices sector, including the U.S.

We expect this growing trend to continue in 2025.
Senior analyst Anshika Jain

Another notable aspect is the surge in premium smartwatch sales. The overall premium segment of the smartwatch market experienced staggering growth of 147%, firmly establishing Apple Watch as a dominant player in this niche. Samsung and OnePlus, while still holding significant ground, trail behind with a 4% and 1% market share, respectively. This landscape shows how premium features such as advanced sensor integration, personalized health metrics, and seamless integration with the iPhone ecosystem significantly influence consumer preferences not just in India or the U.S. as well, their home base.

The continuous trend of customers switching to premium smartwatches signals a fundamental shift in consumer expectations towards health insights, comfort, and reliability, which are critical in assessing the success of wearable tech products in the broader market, drawing clear parallels to the U.S. market.