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S4 40mm gps SG usage 4 hrs 57 mins Standby 19 hrs 57 mins and 31% battery remaining as I’m typing.

I have noise app n background refresh off. Usage reflects 80 mins of exercise. For me the unpair, pair, force reset phone, force reset on watch in that order that someone suggested worked.
 
I'm also not very happy with the runtime of the S4.

Had before a S2 38mm (Nike+) and on most days it was around 75-70% in the evening before charging.

Now I have a S4 40mm (Stainless Steel, currently without eSIM) and with exactly the same usage scenario I end up with around 50% in the evening before charging.

Used both with an iPhone X.

I think I've found a reason for the battery drain compared to my Series 3 I had before the Series 4: Walki Talki. After I did disable this in the control center, my battery usage changed noticeable.
 
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