Group 1: Market Overview - The global wearable band device market is projected to grow by 13% year-on-year in Q1 2025, reaching a shipment volume of 46.6 million units, driven by a low base from the previous year and a rebound in market demand [1] - All three major product categories—basic bands, basic watches, and smartwatches—experienced growth, serving as the main drivers of market expansion [1] Group 2: Vendor Performance - Xiaomi emerged as the top vendor in wearable device shipments for the first time since Q2 2021, capturing a 19% market share with a 44% annual growth rate, attributed to its diverse product lineup and improved integration through HyperOS [2] - Apple holds a 16% market share with a 5% annual growth, while Huawei follows closely with a 15% share and a 36% growth rate [2] - Samsung achieved an 11% market share with a remarkable 74% annual growth, indicating strong performance in the wearable segment [2] - Garmin, with a 4% market share, reported a 10% annual growth [2] Group 3: Industry Trends - The wearable device market is shifting from a hardware-driven model to an ecosystem-driven approach, as companies focus on developing platforms and services to enhance recurring revenue and user retention [2] - In China, Xiaomi is leveraging its extensive product range and HyperOS to deepen device integration and user engagement, while Huawei is building a closed-loop health ecosystem through its Huawei Health app [2] - Globally, lightweight device-centric brands like Oura and Whoop are prioritizing service development and subscription models to enhance user value [2] Group 4: Consumer Preferences - Price, battery life, and health tracking are identified as the top three features consumers consider when purchasing wearable devices [3] - As market education improves and hardware penetration reaches a certain level, software and ecosystem integration are expected to provide greater added value, allowing manufacturers to showcase their strengths [3]