Smartwatch Shipments in India Declined in Q1 2024 as TWS Headsets Dominated Wearables Market: Report

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Smartwatch shipments in India declined for the to start with time due to the fact 2018, when the genuine wi-fi stereo (TWS) section noticed sharp development, in accordance to a report by a market place exploration organization. The smartwatch market place share dropped whilst the wristband class grew by 17.five per cent calendar year-on-calendar year (YoY). When there was an all round decrease in shipments, Boat&#xA0emerged as the best all round wearable brand name in Q1 2024 with a 23.nine per cent market place share, ending on best of other models this kind of as Sound, Hearth-Boltt and Boult.

Drop in Smartwatch Shipments

The quantity of TWS delivered in India grew from 14.six million in Q1 2023 to 15.eight million in Q1 2024, in accordance to the Intercontinental Knowledge Corporation’s (IDC) India Monthly Wearable Device Tracker. On the other hand, smartwatch shipments dropped from 10.three million models in Q1 2023 to nine.six million &#x2014 a seven.three per cent YoY decrease.

The report characteristics this decrease to the surplus stock carried about from the festive income through the 2nd 50 percent of 2023 as perfectly as much less launches in 2024. That reported, the share of highly developed smartwatches &#x2014 like choices from Apple and Samsung&#xA0&#x2014 grew from two. per cent to three.two per cent, as for each the report.

&#x201CThe smartwatch market place is displaying early indicators of a slowdown in India. The distributors are dealing with problems in luring prospects to improve because of to constrained innovation and freshness in more recent products.&#x201D&#xA0Vikas Sharma, Senior Industry Analyst (Sensible Wearable Units) at IDC India reported in a ready assertion.

New wearables types arise

Other wearables this kind of as&#xA0smart rings and good eyeglasses noticed the most development, as for each IDC’s hottest report. It grew from just 100 shipments in Q1 2023 to practically 69000 models delivered in Q1 2024 &#x2013 a development of 46399.three per cent.

Ultrahuman completed as the best good ring maker of the time period with a 43.nine per cent market place share, adopted intently by Pi Ring with a 40.one per cent share, in accordance to the IDC report. Boat, Noise, Hearth-Boltt, Boult, and Oppo emerged as the best 5 distributors, with a collective market place share of 59.nine per cent.

Curiously, offline channels noticed their share in shipments boost from 26.one per cent in Q1 2023 to 37.nine per cent in Q1 2024, as for each the report. On the other hand, on line channel shipments noticed a 14.one per cent YoY decrease, for a 2nd consecutive quarter.


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