These products, which closely resemble the design of the Apple Watch and other premium smartwatches, are also pulling down the average selling price (ASP) in the industry to record lows, making it difficult for the entrenched brands to compete or "premiumise", industry executives and experts said. The ASP in the wearable segment fell about 39% to $26.10 in 2023 from an already low $42.50 the previous year, se per IDC.
