Wearable: China’s smartwatches have a rapid growth of 48% YoY.

According to GfK retail research data, despite the impact of the pandemic, China’s wearables market in 2020 has a steady and slight decline of 5% YoY, and smart watches have a rapid growth of 48% YoY. Kids’ smartwatches experienced a 21% decline in 1Q20, and 2Q20 demand increased by 16%. Then in 3Q20 and 4Q20 return to stability, the annual sales volume slightly decreased by 4% YoY. GfK has revealed that the network standard switching of kids’ smartwatches is the main driving force for product replacement in the market in 2020 and will affect the…