Islamabad, Mar 13, 2025: The Xiaomi Smartwatch industry experienced a significant shift in 2024, marking its first-ever annual downturn.
According to Counterpoint Research, total shipments declined by 7% compared to the previous year, signaling a notable change for a sector that had consistently expanded over the last decade.
Despite retaining its position as the leading smartwatch brand, Apple faced substantial challenges.
The company witnessed a sharp 19% drop in shipments, reflecting waning consumer demand and extended upgrade cycles.
This decline played a major role in the overall market contraction.
Meanwhile, Huawei surged ahead, securing the second spot with an impressive 35% year-over-year growth.
The brand’s strong performance in China—now the world’s largest smartwatch market—was a key factor in its success.
Huawei’s diverse product lineup, spanning from entry-level wearables to high-end and children’s smartwatches, contributed to its rising dominance.
Samsung maintained its third place ranking with a modest 3% growth in shipments, driven by the popularity of its Galaxy Watch7 and Watch Ultra models.
Xiaomi, however, saw a remarkable breakthrough, recording an astounding 135% increase in shipments.
The brand’s budget-friendly yet feature-packed wearables helped it gain significant traction among consumers. 
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One of the primary reasons behind the global market slowdown was India, a region that had previously fueled growth.
The market cooled due to longer replacement cycles, fewer compelling upgrades, and underwhelming experiences for first-time users.
In contrast, China’s smartwatch industry expanded by 6% year-over-year, with brands like Huawei, Imoo, and Xiaomi leading the charge.
Looking forward, industry experts anticipate a gradual recovery in 2025, driven by the integration of AI-powered functionalities and enhanced health-tracking capabilities in upcoming smartwatch models.
These innovations are expected to reignite consumer interest and propel market growth.
