For the first time, India's smartwatch market witnessed a decline in 2024, with shipments dropping 30% year-on-year, according to data from analyst firm Counterpoint. However, amidst this downturn, Apple Watch bucked the trend, reporting a remarkable 2.4x growth for the year.

The decline in smartwatch shipments can be attributed to the market's saturation with cheap, unknown brands, which slowed innovation and impacted established domestic players. In contrast, Apple Watch's growth was driven by experienced users seeking advanced features, better health insights, and seamless smartphone integration, as stated by Counterpoint senior analyst Anshika Jain.

Jain expects this trend to continue in 2025, indicating a shift towards premium smartwatches. The growth in Apple Watch shipments aligns with the iPhone's expanding market share in India, where Apple emerged as one of the top-five smartphone vendors last year, capturing roughly 10% of the market in Q4.

Although Apple Watch's growth was substantial, it had a limited impact on its overall share of the 35 million smartwatches shipped in India last year, according to IDC. Counterpoint reported that the Apple Watch comprised roughly 2% of India's entire smartwatch market in 2024.

However, Apple Watch's success did boost overall premium smartwatch (priced above $230) shipments in India, with a 147% growth. The Series 10 was the top model, followed by the Series 9. The Apple Watch cumulatively captured 50% of the total premium smartwatch segment in the country, per Counterpoint.

Samsung and OnePlus were the other top players in the premium segment last year, with a 4% and 1% market share, respectively. As the Indian smartwatch market continues to evolve, it will be interesting to see how these players adapt to the shifting consumer preferences and technological advancements.

The growth of premium smartwatches in India signals a maturing market, where consumers are willing to invest in devices that offer advanced features and health insights. As the market continues to grow, it will be crucial for manufacturers to focus on innovation, quality, and user experience to stay competitive.

In conclusion, Apple Watch's remarkable growth in India's declining smartwatch market highlights the importance of premium features, health insights, and seamless smartphone integration. As the market continues to evolve, it will be fascinating to see how manufacturers respond to the changing consumer preferences and technological advancements.