Core Viewpoint - Huawei's WATCH series has established a differentiated path based on technology and long-termism over the past decade, culminating in the launch of the 10th Anniversary model, which serves as a milestone for the series [1]. Group 1: Technological Innovation - The industry leadership is built on continuous foundational technology development rather than isolated functional breakthroughs, with Huawei integrating technological innovation into its DNA since the launch of the first HUAWEI WATCH in 2015 [5]. - The latest Huawei WATCH5 is the first Harmony AI smartwatch, showcasing significant technological upgrades that enhance the smart experience on the wrist [6]. - The core "X-TAP sensing window" in the 10th Anniversary model integrates multiple sensors for precise health monitoring, allowing for quick and continuous measurements of vital health indicators [8]. Group 2: Health Monitoring and Software Ecosystem - The upgraded HarmonyOS 6.0 in the 10th Anniversary model transforms the smartwatch into a more intelligent health companion, providing personalized health data analysis and recommendations [10]. - The smartwatch features advanced capabilities such as one-click health checks and multi-dimensional emotional health monitoring, addressing both physiological and psychological health needs [8][11]. Group 3: Long-term Commitment and Industry Insight - Huawei's approach contrasts with the industry's trend of rapid product launches, emphasizing long-term investment and deep user insight as keys to overcoming market challenges [11][13]. - The development of the X-TAP sensing window involved extensive research and trials, reflecting Huawei's commitment to precision and user-centric design [11][13]. - The collaboration with medical institutions since 2018 has led to significant health research outcomes, demonstrating Huawei's dedication to addressing real user needs rather than merely competing on features [13].

Core Insights - The evolution of smartwatches has positioned them as personal health management hubs, with Huawei's WATCH series leading the industry, particularly highlighted by the launch of the Huawei WATCH 10th Anniversary edition, which serves as both a summary of the past decade and a strategic move for the next ten years [1][14] Product Positioning - The Huawei WATCH 5 marks a significant turning point as the first HarmonyOS AI smartwatch, shifting from passive data recording to active understanding and suggestions, addressing a long-standing challenge in wearable technology [3] - The 10th Anniversary edition further enhances the emotional and technological value integration, emphasizing its significance as a commemorative product [3] Design and Materials - The design features a unique color scheme of Cosmic Blue and Polar White, with a "10YEARS" insignia on the crown, highlighting its commemorative nature [5] - Available in 46mm and 42mm sizes, the watch boasts a titanium alloy body, 904L stainless steel case, and sapphire glass, positioning it among the top tier in the smartwatch market [5] Health Interaction and Dashboard - The new "Health Dashboard" represents a revolutionary change in information organization, structuring complex health data into twelve core health indicators for easier understanding [7] - Users can access animated data explanations and trend analyses with a simple touch, making health metrics more intuitive and perceptible [8] AI Integration - The comprehensive integration of HarmonyOS 6.0 enhances the smartwatch's intelligence, evolving the voice assistant into a "wrist AI butler" capable of providing targeted assistance across various scenarios [10] - The new screen recognition capability allows users to ask natural language questions about displayed data, transforming health management from mere numerical displays to a conversational and understandable advisory system [10] Hardware Advancements - The upgraded X-TAP sensing system integrates PPG, ECG, and pressure sensors in a compact design, improving monitoring speed and accuracy while expanding health monitoring capabilities [12] - Features like ECG, vascular elasticity, fingertip blood oxygen, and hypertension risk assessment signify a shift from "health auxiliary tools" to "long-term health management partners" [12] Market Performance - Over the past decade, Huawei's WATCH series has focused on self-developed technology, continuously expanding the capabilities of smart wearables, leading to a cumulative global shipment of over 200 million devices [12] - According to IDC data, Huawei's wearable device shipments reached 28.6 million units in the first three quarters of 2025, securing the top position in both global and domestic markets, with six consecutive years of leading domestic shipments [12] Strategic Significance - The Huawei WATCH 10th Anniversary edition serves as a pivotal product that summarizes the company's decade-long achievements in health technology, system ecology, and hardware sensing, while also indicating future directions through AI and multi-sensing technology [14] - Priced from 2799 yuan, the watch is set to launch on December 25, attracting interest from potential consumers [14]

Core Viewpoint - Apple Watch has experienced a decline in global shipments for two consecutive years, with a 19% drop in 2024 and a 10% drop in 2023, indicating a significant downturn in its market performance [3][5]. Group 1: Shipment Performance - According to CounterPoint's report, Apple Watch's global shipment volume has decreased for five consecutive quarters, with notable declines in all major markets except India [5]. - The report highlights that the decline in shipments is not limited to a single region, as even in the U.S., Apple Watch sales have been disappointing [5]. Group 2: Reasons for Decline - The stagnation in sensor technology development is identified as a fundamental reason for the decline in Apple Watch's attractiveness, as the industry has not seen significant advancements in new health monitoring features [10][14]. - Apple's product strategy has been criticized for focusing on minor updates and cosmetic changes rather than substantial improvements, leading to a lack of compelling reasons for consumers to upgrade [10][12]. Group 3: Competitive Landscape - The rise of domestic high-end smartwatch brands has intensified competition, as these brands have improved their hardware and design, challenging Apple Watch's market position [16][19]. - Domestic brands like Huawei and OPPO have developed advanced health monitoring systems and software algorithms that allow them to offer features that Apple Watch has not yet implemented, further eroding Apple's market share [20][22]. Group 4: Future of Wearable Devices - The increasing importance of wearable devices in the AI era is noted, as they serve as natural entry points for AI interaction due to their proximity to users and ability to collect rich contextual data [25]. - The future role of smartwatches is expected to evolve, potentially becoming containers for AI, allowing seamless interaction across various devices, which may prompt Apple to respond to the competitive pressure from domestic brands [26][28].