The smartwatch market just dipped for the first time-here’s why

The smartwatch market has hit an unexpected decline for the first time, with global shipments declining by 7% in 2024. That’s if you go by the estimations and figures from Counterpoint Research, whose latest report hints the slowing market is primarily due to industry leader Apple. Though the Cupertino giant doesn’t publish any details related to its shipments, Counterpoint suggests it suffered a 19% drop in sales last year. It attributes the brand’s struggles to increased competition, weaker upgrade cycles, and the absence of an Apple Watch Ultra 3 model. The patent dispute that led to a US import ban…