The Apple Watch continues to attract new buyers and remains the top-selling smartwatch. However, the company's industrial design team has been exploring a broad rethink of Apple's smartwatches and is evaluating several different directions. Apple needs to adapt to the rise of screenless fitness bands and smart rings, which are cheaper, lighter, and more fun and convenient to use for many people. The company aims to inject new life into its Wearables, Home, and Accessories segment, which has struggled to generate meaningful growth in recent years.