Beancounters at the market research outfit Counterpoint report that smartwatch shipments fell by seven per cent in 2024, with Job’s Mob leading the decline as its sales plunged by 19 per cent. 

This is largely because punters weren’t thrilled about Apple’s latest offerings, which failed to deliver anything groundbreaking, cool, or innovative. The over-hyped Ultra 3 never showed up, leaving would-be buyers unimpressed with the marginal updates to the S10 lineup.

North America took the biggest hit, especially after Apple’s smartwatch import ban over a blood oxygen monitoring patent dispute threw a spanner in the works. Apple’s market share slumped from 25 per cent to 22 per cent by the end of the year. 

But while Apple and other high-end smartwatch brands floundered, China stepped up to fill the gap. Xiaomi, Huawei, and Imoo saw a massive shipment surge, with China overtaking North America and India as the largest smartwatch market.

Xiaomi in particular saw an astronomical 135 per cent rise in sales, thanks to dirt-cheap smart bands that offer just enough bells and whistles to keep budget-conscious buyers happy.

Imoo, meanwhile, cashed in on the growing trend of kids' smartwatches, as anxious parents snapped up tracking devices to monitor their precious little snowflakes every movement. 

India, once a smartwatch powerhouse, saw its market share nosedive from 30 percent to 23 percent, largely because consumers got fed up with ultra-cheap, low-quality local brands. Landfill-ready gadgets aren’t a sustainable business model unless they have an Apple logo. 

Counterpoint reckons the market might see a slight rebound in 2025, fuelled by AI gimmicks and more sophisticated health-tracking features.