According to a recent report by Counterpoint Research, Apple Watch shipments dropped by 19% year-over-year in 2024. This is the second year in a row Apple has seen a decline in smartwatch shipments. The biggest drop came from North America, which is Apple’s largest market and makes up more than half of its total smartwatch sales. The drop in this key market, combined with limited upgrades in the latest Watch Series 10 and the absence of refreshed Watch SE and Ultra models, pushed Apple into a tough spot in the global smartwatch race.
In the advanced smartwatch segment, Apple lost 8 percentage points in market share. Even though Apple launched the Watch Series 10 in 2024, it did not help boost sales. Q3 2024 was the first time Apple saw a drop in shipments during a launch quarter. The reason was simple. There were not many exciting upgrades, and Apple did not launch new versions of the Watch SE or Watch Ultra 3.
But while most markets saw a decline, India was the only country where Apple Watch shipments went up. So, what is different about India? Let us take a look.
India’s middle class is growing fast. More people now want to own premium products. For many, owning an Apple Watch is a dream come true. It is not just a smartwatch, it is also a status symbol. People are now ready to spend more on premium products that offer good value and brand image. Most people still prefer buying the Apple Watch SE. It costs around Rs. 25000 in the country and offers all the important features people want in a smartwatch.
There have already been several reports showing how the Apple Watch helped detect early signs of heart problems. With the rising number of heart attack cases in India after the pandemic, many people now see the Apple Watch as more than just a gadget. It is something that could potentially save lives. This has made it popular among users looking for a smartwatch that can also help them stay on top of their health.
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Now that people also pay attention to their health. They want to track things like steps, workouts, heart rate, and sleep. The Apple Watch offers a range of useful health features such as heart rate monitoring, ECG, blood oxygen tracking, and even fall detection.
One of Apple’s smart moves in India has been its aggressive financing schemes. Through partnerships with Indian banks and financial services, Apple offers zero-cost EMI options, trade-in discounts, and cashback deals. These make premium Apple Watches more affordable and accessible to a wider audience. Many buyers are now opting for monthly installments, bringing the once out-of-reach device within budget.
Apple is also growing its offline and online presence in India. The company opened two new stores in 2023: Apple BKC in Mumbai and Apple Saket in Delhi. The company is also planning to open more Apple Stores in the country. It also runs a dedicated Apple India online store that offers delivery, product customization, and support. All of this helps make the buying experience better and more accessible.
Apple has also added features that are useful for Indian users. The Apple Watch supports Indian English Siri, local calendars, and even regional languages. These small things make a big difference and show that Apple is thinking about its Indian users.
India has many smartwatch brands like boAt, Noise, Fire-Boltt, and Amazfit. While they dominate volume, they do not offer the same level of hardware-software integration, build quality, or ecosystem value as the Apple Watch. In the premium smartwatch segment, Apple has limited serious competition. Samsung Galaxy Watch is perhaps the only strong rival, while brands like Garmin cater more to niche fitness audiences. This allows Apple to maintain dominance among users seeking a high-end, reliable wearable.
Another reason for the Apple Watch’s growth is the rise in iPhone sales. As more people buy iPhones in India, they also start buying other Apple products. The Apple Watch works best with the iPhone, and users like the smooth connection between both devices. Features like Unlock with Apple Watch and Apple Fitness+ make it even more useful.
While Apple Watch sales are dropping in many parts of the world, India is still showing growth. Apple’s focus on pricing, features, and offline expansion is helping it win in this market. If Apple launches new versions of the Watch SE, it could see even more growth in 2025.
