Comments:
The global smartwatch market declined 2% YoY. The reduction was driven by a decline in global brands like Apple and Samsung and low shipment volumes by Indian brands including Fire Boltt and boAt due to high inventory levels. However, Chinese brands including Huawei, Xiaomi, BBK (Imoo) and Honor observed growth. By region, India, MEA, and China region shipments grew by 3%, 3%, and 15% respectively. North America observed the largest YoY decline of 19% among all the regions, followed by LATAM, EU and Rest of AP. By type, Basic Smartwatches observed a 3% YoY.