Apple Watch sales climbed in Q1 2026, but the company still trails its own record from 2021. The wearable’s share fell from 35.9% to 23% of the global market, a gap widened by rivals that have sharpened their health and fitness features. Market analysts flag the drop as a sign of growing competition.

Counterpoint Research attributes the decline to a lack of major updates, noting that Apple missed a 2024 Ultra 3 release. Yet the refreshed lineup, including the SE 3, pulled in new buyers with affordable pricing and meaningful health upgrades. North America accounted for over half of Apple’s sales, while China and Europe grew the fastest.

Globally, smartwatch shipments grew 4% in Q1 2026, with China’s market expanding 15% year over year. Apple’s 23% share represents a 21% increase from Q1 2025, while Samsung’s sales fell 28%. The data suggest consumer interest remains high, but the brand must innovate further to reclaim its 2021 dominance.

The uptick in Apple’s share, driven by the SE 3’s affordability and new health features, shows the company can still lead in certain segments. However, the gap to its 2021 peak remains wide, underscoring that rivals are closing in. Apple’s next major refresh, likely the Ultra 4, will decide whether it can return to top spot.