Report: Wearables Market sees first ever decline in Q1

Shipments of wearables declined 3% year-over-year, according to a report by the International Data Corporation. Wearables shipments worldwide declined 3% year-over-year in the first quarter, marking the industry's first-ever decline, according to a report by the International Data Corporation. Samsung came in second, though shipments declined nearly 10% year-over-year. IDC notes the company had generally relied on smartphone sales to bundle wearables, particularly hearables, and those smartphone sales have slowed. IDC points toward slowing demand as the primary driver behind the decline after years of growth, including during the COVID-19 pandemic.