Overview: The global HLOS smartwatch witnessed a decline of 4% YoY in Q4 2024. The decline was majorly driven by the 19% YoY shipment decline in NAM region. The HLOS shipments grew only in China and MEA. China shipments grew 29% YoY, fuelled by Huawei and Xiaomi. Apple shipment declined 19% YoY globally, witnessing decline is all the regions but India in Q4 2024.