Part 2/10:
Notably affected is the so-called “others” category, predominantly made up of budget brands and the tech giant Apple, which experienced a staggering 19% decrease in sales. This downturn may be attributed to the absence of compelling new releases from Apple, such as the anticipated Apple Watch Ultra 3 and Series 10, which lacked significant feature updates.
In contrast, Samsung recorded a modest growth of 3%, attributed to the release of their Ultra watch and Galaxy Watch 7. While Chinese brands displayed healthy growth from a smaller base, their contributions were insufficient to counterbalance the overall global slump, particularly as the ultra-low-cost watch market in India has taken a hit. The slowdown in high-end innovation raises questions: Have we saturated the smartwatch market?