Apple Watch Shipments Surge in India

India's Smartwatch Market Experiences a Shift in 2024

For the first time in 2024, India witnessed a decline in smartwatch shipments compared to the previous year. This downturn was largely attributed to consumers shifting away from less-known, budget-friendly brands.

Market Contraction and Brand Preferences

Data from Counterpoint Research indicates a 30% year-over-year decrease in smartwatch shipments within India during 2024. Early indications of slowing sales were observed in the prior year, coinciding with an influx of brands lacking established reputations.

This trend negatively affected established domestic manufacturers, subsequently hindering the rate of product innovation.

Apple's Contrarian Performance

While the overall market struggled, Apple demonstrated significant growth, achieving a 2.4x increase in shipments throughout the year.

Apple Watch shipments rose by an impressive 141% last year. This positive trajectory reversed a 57% decline experienced by the company in 2023, as reported by Counterpoint.

Factors Driving Apple's Growth

Anshika Jain, a senior analyst at Counterpoint, explained to TechCrunch that the increase in Apple Watch adoption stemmed from “experienced users gradually transitioning to more advanced smartwatches.”

These users sought enhanced health monitoring capabilities, improved smartphone integration, and features not typically found in lower-priced alternatives.

Jain anticipates this upward trend will persist into 2025.

Correlation with iPhone Market Share

The growth in Apple Watch shipments mirrors the expanding market share of the iPhone within India. Apple secured a position among the top five smartphone vendors in the country last year, capturing approximately 10% of the market share in the fourth quarter.

Market Share and Premium Segment

Despite its substantial growth, Apple Watch’s impact on the overall market share remained limited. According to IDC, approximately 35 million smartwatches were shipped in India last year.

Counterpoint, while not disclosing exact shipment numbers, indicated that the Apple Watch accounted for roughly 2% of the total smartwatch market in India during 2024.

Dominance in the Premium Tier

The success of the Apple Watch significantly boosted shipments of premium smartwatches – those priced above $230 – in India, with a growth rate of 147%.

The Series 10 and Series 9 models were the most popular, with Apple Watch collectively holding 50% of the premium smartwatch segment, according to Counterpoint.