This Smartwatch Brand Grew A Whopping 135% In 2024
Kaitlyn Cimino / Android Authority
TL;DR
- Despite a 7% YoY decline in global smartwatch sales in 2024, one brand saw immense growth.
- As per a new report, Xiaomi clocked in a 135% increase in sales over 2023 and secured a spot among the top five smartwatch makers globally.
- Apple still holds the lion’s share of the market, although its shipments dropped 19% compared to 2023.
Although the smartphone market finally recovered last year after a two-year decline and posted a 4% YoY growth in global sales, smartwatch sales reportedly took a hit in all regions. However, according to Counterpoint’s latest market research report, one OEM defied all odds and saw staggering growth in smartwatch sales.
The research firm notes that smartwatch shipments fell 7% YoY in 2024, with market leader Apple seeing a 19% decline in sales over 2023. While Huawei and Samsung managed to stay in the green with 35% and 3% growth, respectively, Xiaomi took the market by storm with a staggering 135% YoY growth.
The report attributes Xiaomi’s meteoric rise to the strong performance of its premium Watch S1 and budget-friendly Redmi Watch models. Although these aren’t among the best smartwatches currently on the market, the devices are significantly cheaper than competing models from Apple, Samsung, and Google. This is likely one of the main reasons users gravitated towards them instead of getting the Apple Watch Series 10, Galaxy Watch 7 series, or the Pixel Watch 3.
The minimal feature upgrades offered by Apple, Samsung, and Google also seem to have played a role in disappointing sales, especially in North America, where shipments declined significantly compared to 2023. On the contrary, smartwatch shipments ballooned in China, resulting in Huawei maintaining its second spot on the list of the top five smartwatch makers globally and Xiaomi rising to the fourth spot, closely behind Samsung.
Analysts expect smartwatch sales to recover in 2025 as OEMs plan to offer more innovative health and fitness tracking features on upcoming models. Samsung is reportedly working on bringing non-invasive blood glucose monitoring to its smartwatches, which could be a game-changer and boost sales. However, we don’t expect the company to get the technology ready in time for the Galaxy Watch 8 series, which could arrive alongside its next-gen foldables later this year.
Got a tip? Talk to us! Email our staff at [email protected]. You can stay anonymous or get credit for the info, it’s your choice.
