The dispute reflects the rivalry in the smartwatch market, dominated by Apple at present. That position is at stake as competition intensifies.
The fight is crucial for Apple as it seeks to strengthen its revenue streams beyond iPhones. Although the iPhone's contribution to its total net sales has dropped from 62% in 2017-18, it was still a hefty 52% in 2022-23. Meanwhile, the share of wearables, home and accessories, which includes Apple Watch and Apple AirPods, grew from 6.5% to 10.4%.
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