• The global smartwatch market fell 7% in 2024, the first ever decline in the overall market.
• Apple retained its top position, despite a 19% YoY decline in shipments due to tighter competition and weaker upgrade cycles.
• China captured the biggest shipment share for the first time, driven by the strong performance of Chinese brands including Huawei, Xiaomi and BBK (Imoo).
• Kids smartwatch was the only segment to witness a rise, as parents’ awareness increased, and brands expanded in this category.