Mumbai: India’s wearable market fell for the second straight quarter. The wearable market includes wristband, smartwatch, and earwear. The market fell due to weak demand. In the July-September quarter, the market shipments fell 20.7% to 38 million. Data released by International Data Corporation (IDC) showed this.
Smartwatches continued to struggle, declining by 44.8% y-o-y to 9.3 million units. Among the brands, in the smartwatch category, market leaders Noise and boAt, witnessed a fall of 27% and 35%, respectively, in their shipments during the quarter. Titan, however, witnessed a 37.5% increase in shipments, owing to which its market share rose to 12.6% from 5.1% in the same quarter last year.
Also Read: Southern Railway announces changes in train services: Full list
Smartwatch average selling prices (ASPs) increased by 1.4% from $25.8 to $26.2 during the quarter. Notably, in the smartwatch category, the share of online channels has increased for the past three quarters to 63.8% in the quarter.
The earwear category declined 7.5% y-o-y to 28.5 million units, IDC said. Within earwear, the share of Truly Wireless Stereo (TWS) reached a record 73.2% from 68.2% a year ago, with shipments declining by 0.7% y-o-y.
The smart ring category continued to grow, with over 92,000 smart rings shipped during the quarter and a reduction of 16.2% y-o-y in ASP to $162.1. For the first time since the April-June quarter of 2019, the ASP for overall wearables grew by 1.3% to $21.3 in the July-September quarter.
Post Your Comments