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China’s Imports Unexpectedly Fell In June, But Exports Beat Forecasts

by THEFUTURE.TEAM

July 12, 2024

China’s imports fell in June, missing expectations for a slight rise, while exports rose more than expected, customs data showed on Friday.

KEY DATA

China’s imports fell 2.3% in June from a year earlier in US dollar terms. That contrasted with a forecast for growth of 2.8 percent, according to a Reuters poll.
Exports denominated in US dollars for June rose 8.6% year-on-year, beating expectations for growth of 8%.
Those numbers boosted year-to-date imports by 2% and exports by 3.6% in the first six months compared to the same period a year earlier.
China’s trade with the Association of Southeast Asian Nations grew 7.1 percent in the first half of the year, cementing the bloc’s position as the country’s largest trading partner by region, followed by the European Union.

ACCENT

China’s imports of rare earth elements, meat, cosmetics and machinery fell sharply in the first half of the year, customs data showed. During this time, however, imports of iron ore and oil increased.

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Amid slower domestic growth, Beijing has sought to shore up its supplies of food and essential minerals to bolster national security.

In the first half of the year, China’s exports of furniture, home appliances, ships and automobiles rose. Exports of rare earths fell in value but rose in volume, the data showed.

China’s car exports rose 18 percent in volume last month from the same period last year, customs data showed.

WHAT TO WATCH FOR

China’s exports rose 7.6% in May from a year ago in US dollar terms, but imports rose just 1.8% during that time.

Domestic demand remains weak. Consumer prices in China rose 0.2 percent in June from a year earlier, beating expectations, while producer prices met expectations, data from the National Bureau of Statistics showed on Wednesday.

The core consumer price index, which strips out more volatile food and energy prices, rose 0.6% year-on-year in June, slightly slower than the 0.7% increase in the first six months of the year.

China’s National Bureau of Statistics is due to release second-quarter gross domestic product data and economic indicators for June on Monday.

The Decline Of Smartwatches: A Turning Point In The Wearable Tech Industry

by THEFUTURE.TEAM

March 13, 2025

For the first time in history, the smartwatch market is facing a significant downturn. Shipments are expected to drop by 7% in 2024, marking a major shift in a segment that has been growing steadily for over a decade. A report by Counterpoint reveals that while Apple still holds the top spot, its dominance is being challenged by a surge from Chinese brands like Huawei, Xiaomi, and BBK. Even as the overall market struggles, some companies are thriving.

The Big Picture: Why Smartwatches Are Slowing Down

Apple’s flagship products have long been the driving force in the smartwatch market, but even the tech giant is feeling the pressure. The company’s shipments are projected to fall by 19% this year, though it will remain the market leader. Meanwhile, brands from China are capitalizing on the shift, with Huawei showing an impressive 35% growth in sales, driven by the booming domestic market and a broad range of offerings, including smartwatches for kids.

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Xiaomi, too, is experiencing remarkable success, with a staggering 135% increase in sales. In contrast, Samsung is seeing more modest growth, up 3%, thanks to its latest Galaxy Watch 7 and Galaxy Watch Ultra series.

While some companies are succeeding, the broader market is facing headwinds. The biggest factor behind the overall decline is the slowdown in India, where consumer demand for smartwatches has stagnated. The segment is suffering from a lack of innovation and fresh updates, leaving many consumers with little incentive to upgrade their devices. Add to that market saturation, and it’s clear why many users are content with their current models. The Chinese market, however, is bucking the trend, showing 6% growth in 2024.

A Glimpse Into The Future

Looking ahead, the smartwatch market may begin to recover in 2025, driven by the increasing integration of AI and advanced health monitoring tools. As these technologies evolve, the industry could see a resurgence in demand.

Huawei’s Remarkable Comeback

Huawei’s impressive performance in the smartwatch space signals a broader recovery for the company, which has been hit hard by US sanctions. Once the world’s largest smartphone maker, Huawei’s business was decimated when it lost access to advanced chips and Google’s Android operating system in 2019. But in China, Huawei has maintained its dominance, with its market share growing to 17% in 2024.

This resurgence was partly driven by the launch of the Mate 60 Pro, a smartphone featuring a 7-nanometer chip developed in China. Despite US sanctions, the device surprised many with its capabilities, a testament to China’s rising investment in domestic semiconductor production.

In February, Huawei also unveiled its Mate XT foldable smartphone, the world’s first device to fold in three directions. Running on HarmonyOS 4.2, Huawei’s proprietary operating system, the phone further demonstrates the company’s resilience and ability to innovate despite international challenges.

Huawei’s smartwatch offerings are also catching attention, particularly the Huawei Watch GT 5 Pro, which launched in September of last year. With a premium titanium alloy design, a high-resolution AMOLED display, and impressive health tracking features, the GT 5 Pro has become a standout in the market, available to both Android and iOS users.

A Brief History Of The Smartwatch Revolution

The smartwatch market has had its fair share of milestones, but the real breakthrough came in 2012 with the Pebble, a Kickstarter-funded project that raised over $10 million. Pebble introduced the world to smartphone integration, app downloads, and long battery life, becoming the first truly mass-market smartwatch.

In 2013, Samsung entered the game with the Galaxy Gear, marking its first attempt at wearable tech. But it was Apple’s entry in 2014 that truly set the industry on fire. The Apple Watch’s sleek design, integration with iOS, and emphasis on health and fitness catapulted it to the top of the market, establishing a standard that many other brands would try to follow.

By 2021, the smartwatch industry had grown to over $30 billion in revenue, with annual growth reaching 20%. Yet now, it finds itself at a crossroads, with innovation stagnating and market saturation taking a toll.