Breaking news

Spain Moves Closer To Shorter Working Week, But Challenges Lie Ahead

by THEFUTURE.TEAM

December 23, 2024

Spain is on the brink of reducing its working week, following a historic agreement between the government and the country’s two largest unions. This deal aims to cut the maximum work hours per week from 40 to 37.5, without altering wages. While the government has given its support, the proposal still faces challenges in the fragmented parliament, with opposition from employers.

Labor Minister Yolanda Díaz, alongside leaders of the UGT and CCOO unions, has hailed the agreement as a major step forward. The change is set to impact around 12 million workers and is expected to contribute to a reduction in carbon emissions. Under the new arrangement, the weekly hours will be calculated based on an annual average, with any extra hours worked considered overtime.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Additionally, the government plans to strengthen timekeeping enforcement, introducing fines of up to €10,000 per worker for companies that fail to comply. However, there are indications that full implementation might be delayed until 2026 to accommodate small businesses and secure broader parliamentary support.

The proposal still faces uncertainty in the lower house of parliament. The minority government relies on smaller parties, including the Catalan separatist party Hunt, which may be difficult to convince due to its pro-business stance.

In a statement, Díaz, who is also Spain’s Deputy Prime Minister and leader of the left-wing Sumar party, emphasized the significance of the measure: “Today we are repaying our debt to the working people of Spain, to the new generations who understand that personal time is not a luxury, but a fundamental right.”

However, the reduction in working hours has been met with resistance from Spain’s main employers’ association, CEOE. They argue that such a change should be negotiated on an individual company basis rather than mandated by law, allowing businesses to adapt based on their specific needs.

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.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

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.