Overview: The global smartwatch market declined 2% YoY. The reduction was driven by decline in global brands like Apple, Samsung and the shipment decline in the leading Indian brands. However, Chinese brands including Huawei, Xiaomi, and BBK (Imoo) observed growth. China region shipments grew YoY by 37%. India and NAM region shipments declined 33% and 11% YoY, respectively. By type, basic smartwatches observed a 15% YoY decline, driven by slowdown in the India market.