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Parents turn to smartwatches for their children amid global phone screen-time pushback
(www.straitstimes.com)
This is a most excellent place for technology news and articles.
All of that you can do with a phone too. I do admit thought the argument of not losing it as easily since its on your arm makes sense.
I think you're far less likely to spend a lot of screen time on a watch, hence the article
If you restrict the crap out of the phones so there is not much interesting to do for kids, it will have similar effects. E.g. they complain about YouTube on their kids phones, block it. Complain about games, don't let them install them.
It's best when they don't have an option to install and use this stuff to begin with, if it's a problem. Mostly because I'm sure kids will find a way to bypass restrictions (because most these apps aren't that good)