Samsung gains 3% in smartwatch sales while Apple drops 19%, Huawei and Xiaomi shake up the market
According to Counterpoint Research, the global smartwatch market shrank by 7% in 2024. Apple saw a big drop in sales, Samsung enjoyed a small boost, and Chinese brands took over the top spots. Apple’s smartwatch sales fell 19% compared to last year, but it still held the number one position. Samsung saw a slight 3% rise, while Chinese companies like Huawei, Xiaomi, and Imoo grabbed the largest chunk of shipments for the first time.
2024 Smartwatch Market Breakdown
Apple: Even with a 19% sales drop, Apple remained the market leader in 2024. Its share shrank from 25% in 2023 to 22% this year. Huawei: Huawei came in second, growing 35% from last year. The Chinese brand’s market share jumped from 9% to 13%, making it a strong player. Samsung: Samsung held onto third place with a 3% increase in sales. Its market share went from 8% in 2023 to 9% in 2024, thanks to popular models like the Galaxy Watch 7, Watch Ultra, and Watch FE.
Xiaomi: Xiaomi saw an amazing 135% growth in 2024. Starting with just 3% of the market in 2023, it climbed to 8% this year, powered by the Watch S1 and Redmi Watch series. The Galaxy Watch 7, Watch Ultra, and Watch FE models won over many buyers, boosting Samsung’s numbers. Meanwhile, Counterpoint Research also noted that Imoo, another Chinese brand, grew 22% and claimed 6% of the market.
Other smaller brands together dropped 22%, with their combined share falling from 50% in 2023 to 42% in 2024. In short, while Apple struggled and Samsung made small gains, Chinese brands like Huawei and Xiaomi rewrote the smartwatch game in 2024, taking the lead in shipments and showing strong growth.
