According to IDC’s latest China Wearable Device Market Quarterly Tracking Report, the year-on-year growth rate of China’s wearable market in the first quarter was four times that of the global market. In the first quarter of 2024, China and the global wearable device markets shipped 33.67 million and 110 million units, respectively, with year-on-year growth rates of 36.2% and 8.8%. Despite the global wearable market’s growth trend, the average selling price has declined for the fifth consecutive quarter due to the activity in emerging markets and the downward pressure of the economy on consumer spending.