Apple Watch's 2024 Q2 Shipments, Market Share and Trends

TapTechNews August 16th news, the market research institute TechInsights today released a report estimating that in the second quarter of 2024, the global shipments of Apple Watch were 8.9 million units, and the market share once again climbed to the top and occupied about half of the global smartwatch market (the report has not disclosed the shipment situation of other brands for the time being).

Due to the persistence of unfavorable factors compared to the same period last year, the shipments of Apple Watch in the second quarter of 2024 decreased slightly year-on-year (-1%). The agency pointed out that the average selling price of Apple Watch in Q2 this year has decreased because in the case of continued inflation, consumers controlled their discretionary spending, and the model combination tended to be low-cost products such as SE, therefore, the revenue of Apple Watch decreased by about 4% in the second quarter of 2024.

At the same time, the total revenue of Apple's wearable devices (TapTechNews note: including AirPods, Beats, and VisionPro) resumed growth in this quarter (+0.6%). Since the first quarter of 2021, the revenue of Apple Watch has been leading that of AirPods.

In the past two years, the shipments of Apple Watch have shrunk in all but two quarters, while since 2016, the growth of Apple Watch in each quarter has been continuously positive before. The agency said that the current market is beginning to saturate and the proportion of new buyers of smartwatches (relative to replacement sales) is beginning to decline.