The smartwatch market share in India dropped, with smartwatch shipments declining by 7.3 percent year-on-year, while the wristband category saw a 17.5 percent growth.
The decline in smartwatch shipments was attributed to excess inventory from festive sales in 2023 and fewer launches in 2024. However, the share of advanced smartwatches like Apple and Samsung grew.
IDC's report highlighted that the smartwatch market is experiencing a slowdown in India due to limited innovation in newer models, making it challenging for vendors to lure customers into upgrading.
New wearables categories like smart rings and smart glasses showed strong growth, with smart rings growing by an impressive 46399.3 percent in shipments from Q1 2023 to Q1 2024.
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