India’s smartwatch market hit a surprising roadblock in 2024, experiencing its first annual decline as consumers turned away from cheap, lesser-known brands. Despite this overall slump, Apple emerged as a standout performer, with Apple Watch shipments surging 2.4 times year-over-year — a remarkable feat in an otherwise struggling market.
According to data from analyst firm Counterpoint, the Indian smartwatch market contracted by 30% in 2024 compared to the previous year. The decline followed a period of rapid growth, where the market had become oversaturated with budget-friendly, generic devices. This influx of low-cost options stifled innovation and impacted the growth trajectory of domestic players, many of whom struggled to differentiate themselves amid intensifying competition.
However, while the broader market faltered, Apple thrived. The tech giant saw an astounding 141% growth in Apple Watch shipments, rebounding sharply from a 57% decline in 2023. This resurgence wasn’t just a statistical anomaly — it signaled a shift in consumer behavior, as users increasingly gravitated toward premium devices offering superior health tracking, seamless smartphone integration, and enhanced durability.
“Some experienced users gradually moved to advanced smartwatches,” an analyst at Counterpoint noted. “They were seeking features that cheaper devices lacked, such as more accurate health insights, longer-lasting builds, and tighter integration with their digital ecosystems. We expect this growing trend to continue in 2025.”
Apple’s smartwatch success mirrored its rising smartphone dominance in India. The company climbed into the top five smartphone vendors in the country last year, securing approximately 10% of the market in Q4. As more consumers embraced iPhones, many were naturally drawn to the Apple Watch as a complementary device, further fueling the wearables’ growth.
Despite this impressive momentum, Apple Watch shipments still made up only around 2% of the total 35 million smartwatches shipped in India in 2024, according to IDC. Nevertheless, its impact on the premium segment was undeniable. Counterpoint data revealed that Apple Watch accounted for a staggering 50% of the premium smartwatch market (defined as devices priced above $230) — driving an overall 147% increase in that segment.
The Series 10 led the charge, followed closely by the Series 9, both models winning over consumers with their sleek designs, robust fitness tracking features, and expanding ecosystem of apps. Samsung and OnePlus also maintained a presence in the premium segment, though with significantly smaller shares of 4% and 1%, respectively.
Apple’s growth in India underscores a broader trend: as consumers become more tech-savvy and discerning, they’re willing to invest in devices that deliver long-term value. While budget smartwatches may still dominate in sheer volume, the upward trajectory of Apple Watch shipments suggests that the appetite for premium, feature-rich wearables is only just beginning to build.
As we look ahead to 2025, all signs point to continued growth for Apple in India’s smartwatch market. With health and wellness becoming increasingly important to consumers, and with Apple continually pushing the envelope with innovations like glucose monitoring, advanced sleep tracking, and more, the brand is well-positioned to capture even more of the market — perhaps even reshaping India’s wearables landscape in the years to come.
In a market that’s rapidly evolving, Apple has proven that quality and innovation can still thrive, even in the face of broader industry turbulence. For now, the Apple Watch remains a symbol of what’s possible when cutting-edge technology meets consumer demand — and it’s clear that India is just getting started on its premium smartwatch journey.
