Did you know Apple Retains Smartwatch Lead at 28% in Q4 2024, Huawei and Xiaomi Gain

 

According to Counterpoint's Smartwatch Market Analysis and Insights, global smartwatch shipment saw a decline of 9% in Q4 2024. The company leading in the smartwatch market was Apple with a 28% share. It was followed by Huawei with a share of 14% and Xiaomi with a 10% share. The fastest year-over-year growth was by Huawei and Xiaomi among the top ten brands in Q4 2024. Apple saw an 18% year-over-year growth only because of a decrease in consumer demand and fewer expectations with new models.

In Q4 2024, the highest share of global smartwatch shipments went to China, followed by India. There was also a 29% YoY shipment growth in China because of Xiaomi, Huawei, and BBK. HLOS smartwatches had the highest shares (88%) in North America which were mostly because of Samsung, Apple, and Garmin. Apple had a 31% market share in Q4 2023 which decreased to 28% in Q4 2024. Other smartwatch brands had 69% market share in Q4 2023 which increased to 72% in Q4 2024.