Zepp Health hints more big smartwatch launches before year-end
Zepp Health is preparing a new round of launches for the second half of 2025. With the Balance 2, Helio Strap, Active 2 and Bip 6 already released, the focus now turns to what comes next. This time, it seems it’s the Adventure and Performance categories that are in line for updates.
All signs point to more hardware in Q3 and Q4
Zepp Health’s Q2 earnings confirm what was already hinted at a few months ago: new devices are coming. In the most recent update, management said the company has a “robust pipeline of new innovations” and expects a full-quarter run for the recently launched Balance 2. More products will arrive across different lines in Q3 and Q4.
If this sounds familiar, it should. Back in May, during the Q1 earnings call, Zepp said it was “aiming to refresh all major product lines” in 2025. That includes Lifestyle, Adventure, Performance and Essential. At the time, management hinted that “many” new products were on the way, “and that many is more than two” in the coming quarters. This is in contrast with 2024, when the company had only one major product launch.
Given what we’ve seen so far, the plan for 2025 seems to be holding up. The first half of the year brought Amazfit Balance 2, Helio Strap, Active 2 and Bip 6. The Essential and Lifestyle lines are already covered with these launches. That leaves the Adventure and Performance categories wide open for upgrades.
This could mean a T-Rex 3 Ultra or even a T-Rex 4, possibly by end October. The Cheetah and Falcon series are also due and who knows, we might even get Gen 2 of the Helio Ring. We don’t really see November or December as realistic launch windows – considering those are the holiday shopping period months.
The only devices so far that we’ve seen leaked info for are the two further iterations of Balance 2, namely XT and Runner. And we are also waiting of the Premium edition of Helio Strap. But all of those are iterations of current product ranges.
Existing models are doing the heavy lifting
For now, the company is leaning on its current lineup. The Bip 6 and Active 2 continue to perform well in both retail and online channels. These watches, which sit at the affordable end of the range, helped Zepp post a 46 percent year-on-year revenue increase in Q2.
Other models are also starting to show up in the numbers. The Balance 2 and Helio Strap, both introduced in June, were flagged as early contributors to the quarter’s performance. That will ramp up further in Q3 now that these devices have global availability.
One surprise hit is the T-Rex 3. Zepp says demand is exceeding expectations, driven by interest in battery life and rugged features. This bodes well for any future additions to the Adventure line.
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Margins were mostly flat at 36.2 percent in Q2, though that reflects a higher mix of low-cost models and the discounting of older Balance 1 stock. With that inventory being cleared out, and newer launches picking up, margins are expected to improve in the second half.
Zepp is no longer just playing catch-up
The shift from Q1 to Q2 shows a company moving from recovery to growth. Back in Q1, Amazfit-branded product revenue grew 10.2 percent year-on-year. This was the first such uptick since 2022. Zepp also reported progress on AI tools and said its Zepp Flow voice assistant now responds 17 times faster than before. It’s also been leaning into sport sponsorships, most notably with Gabby Thomas and Jasmine Paolini.
With more launches incoming and brand visibility ticking up, Zepp Health finally looks like it has momentum on its side. The rest of 2025 is likely to be far more active than anything we saw last year.
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