The report states that by type, basic smartwatches observed a 15 per cent on-year decline, driven by a slowdown in the Indian market
Once considered one of the fastest-growing consumer tech products, smartwatches are now seeing a dip in demand in India. A report has revealed that India region shipments declined 33 per cent on a year-on-year (YoY) basis in the first quarter of the current year (Q1 2025).
Counterpoint Research, in a report, stated that the global smartwatch market declined by two per cent YoY during the quarter. The reduction was driven by a decline in global brands like Apple, Samsung and the shipment decline in the leading Indian brands.
However, Chinese brands including Huawei, Xiaomi, and BBK (Imoo) registered growth, according to the report. China region shipments grew YoY by 37 per cent, Counterpoint Research said. Media reports stated that brands are expected to shift their focus towards high-end price segments to drive growth in 2025, which is being termed as the year of correction for the sector.
After marking a dip of 34.4 per cent YoY in 2024, the shipments are likely to grow by two per cent by the end of the year on a year-on-year (YoY) basis, the reports added. Counterpoint Research added that by type, basic smartwatches observed a 15 per cent YoY decline, driven by a slowdown in the Indian market.
With the attach ratio peaking and no longer marking an increase, the media reports highlighted that the organic consumer demand and search queries have also reported a downward trend in case of smartwatches.
