Overview: Global smartwatch shipments declined by 2% YoY in Q1 2025. This marks the fifth consecutive quarter of YoY decline in global smartwatch shipments. The decline was fueled by shipment drop from Apple, Samsung, and a slowdown among India’s leading brands, such as Noise, Fire Boltt, and boAt. In contrast, Huawei, Xiaomi, and BBK (Imoo) saw shipment increases. Xiaomi achieved the fastest growth among the top 5 brands in Q1 2025. However, the global smartwatch revenue grew YoY, owing to the revenue growth witness in all the top 5 brands, except Apple.