Overview: Global smartwatch shipments declined by 9% YoY in Q4 2024. This marks the fourth consecutive quarter of YoY decline in global smartwatch shipments. The decline was fueled by shipment drop from Apple and a slowdown among India’s expanding brands, such as Noise, Fire Boltt, and boAt. In contrast, Samsung, Huawei, Xiaomi, and BBK (Imoo) saw shipment growth. Xiaomi achieved the fastest growth among the top 5 brands in Q4 2024. The global smartwatch revenues also declined YoY, majorly impacted by the 23% YoY revenue decline of Apple smartwatches in Q4 2024.