This afternoon, Apple analyst Ming-Chi Kuo posted his latest research notes on Apple Watch as follows:

• The new 2024 Apple Watch will not adopt Micro LED.
• The 2025 new Apple Watch will likely use Micro LED, but I wouldn’t be surprised if it’s postponed to 2026.
• Apple Watch shipments in 2023 are expected to decline by approximately 15% YoY to 36–38 million units.
• The new 2024 Apple Watch will unlikely have significant innovative experiences.
• The highly anticipated blood glucose monitoring feature won’t happen in 2024 and possibly not in 2025.
• The Apple Watch is a classic example of a product that succeeded through repositioning. However, based on current shipment momentum, it may need to be repositioned again if there’s an unfortunate year-over-year decline again in 2024.

The one bright spot on the horizon, according to Kuo: By by integrating Vision Pro with the Apple Watch, he believes that it could create an unparalleled and innovative health management experience to drive shipment momentum for both products further.