Overview: Global TWS sales in Q1 2024 reached 71 million units, flat YoY. Meanwhile, revenue declined 9% YoY during the quarter. North America experienced slight YoY growth, but the Asia Pacific ex-China region experienced YoY declines due to sluggish growth in the Indian market. TWS market sales was flat YoY in Q1 2024 as the difficult market conditions were offset by strong demand from developed markets like NAM and Europe. A full-fledged market recovery can be expected starting Q3 2024 following Apple's new product launch and as peak season begins in emerging markets. Growth rate will be back to almost 8%-9% in 2024 and 2025 as steady growth in demand is expected for a while in emerging regions.