May 9 2025 – According to Counterpoint’s recently released “Global Smartwatch Shipment Tracker Report for Q4 2024,” Apple Watch shipments experienced a year-over-year decline of 19% in 2024.
The report highlighted that Apple Watch shipments fell across all regional markets except India, with the most significant drop occurring in North America, which accounts for over half of Apple Watch’s total shipments.
This marks the second consecutive year of annual shipment decline for the Apple Watch, as revealed by the report. In the premium smartwatch segment, Apple’s market share contracted by eight percentage points year-over-year in 2024. Notably, the fourth quarter of 2024 marked the fifth consecutive quarter of shipment decline for Apple’s smartwatches, while all major competitors offering premium smartwatches saw growth during the same period.
In addition to the shrinking North American market, the report attributed the overall decline in 2024 to the limited upgrades in the Watch Series 10 and the absence of new models in the Watch Ultra 3 and SE series. The high-end Watch Ultra series, which typically accounts for more than 10% of shipments, saw its share drop to less than 8% in Q4 2024. The SE series, Apple’s entry-level smartwatch, usually drives significant shipments after its release. Consequently, Q3 2024 became an anomaly for Apple, as it was the first time the company witnessed a year-over-year decline in shipments during a new product launch quarter.
The report pointed out that the last update to the SE series dates back to Q3 2022. Apple has been experimenting with a shift from an aluminum base to a plastic one for the SE series, a move that has delayed the release of new SE models.
To achieve a market rebound and sustain its market share in 2025, Counterpoint suggests that Apple should prioritize the introduction of new features, the launch of updated models in the SE and Ultra series, and potential design enhancements.
