In 2024, smartwatch sales in India declined for the first time. The main reason for this was that consumers moved away from cheap and unknown brands. The market became flooded with low-quality and inexpensive products, leading to a 30% drop in sales. This situation also negatively impacted well-known local brands and slowed down innovation.
However, Apple went against this general trend and increased its sales by 2.4 times. In 2024, Apple Watch sales grew by 141%. In comparison, sales had declined by 57% in 2023.
Counterpoint’s senior analyst, Anshika Jain, told TechCrunch that the primary reason for this growth was users shifting to more advanced smartwatches. Apple Watch provides more accurate health data, better integration with iPhones, and many features that cheaper devices lack.
The increase in Apple Watch sales is also linked to the expanding market share of the iPhone in India. In the last quarter of 2024, Apple became one of the top five smartphone brands in the country, reaching a market share of approximately 10%.
Despite the significant growth in Apple Watch sales, it did not have a major impact on the overall market. According to IDC, a total of 35 million smartwatches were sold in India in 2024. Counterpoint’s report states that Apple Watch accounted for only 2% of this market.
Apple Watch’s success also strengthened the premium smartwatch market (priced above $230). Sales in this segment increased by 147%. The best-selling model was the Apple Watch Series 10, followed by the Series 9. According to Counterpoint, Apple Watch captured 50% of India’s premium smartwatch market.
Samsung and OnePlus were also present in the premium segment, but their market shares were only 4% and 1%, respectively.
