Overview:
Global smartwatch shipments declined by 9% YoY in Q3 2024. This marks the third consecutive quarter of YoY decline in global smartwatch shipments, likely due to a significant slowdown in the growth of India's once-booming local smartwatch brands. Apple shipments declined YoY while Huawei achieved its best-ever quarterly results in Q3 2024. The Global smartwatch revenues grew YoY, driven by the launches from the major brands including Apple, Samsung, and Google. Samsung expanded their line up with high priced Galaxy Watch Ultra model to compete with Apple Watch Ultra.
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