Apple Maintains Top Spot in Wearables Despite Significant Sales Decline

Global demand for wearables grows, but Apple's shipments of Apple Watch and AirPods fall sharply due to economic challenges and innovation gaps.

Apple's market share dropped from 24.5% to 18.2% year-over-year.
Global wearable shipments increased by 8.8% in the first quarter of 2024.
Average selling prices for wearables have declined for five consecutive quarters.
Xiaomi and Huawei are gaining ground with significant year-over-year growth.
Consumers are increasingly opting for mid-range and budget wearables due to price sensitivity.