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India’s smartwatch market dipped by as much as 30% YoY in Q2, according to analysts
India is the second - largest wearable market after China . At times , it has also been thelargest smartwatch mart . However , in Q2 , wearable shipments in the country declined 10 % twelvemonth - on - year to 29.5 million units . The first half of the year , meanwhile , fell 4.7 % to 55.1 million units , analyst firm IDCreportedthis week .
grocery psychoanalyst believe this downslope may widen over the coming quarter , and they point the blame firmly on smartwatches .
According to the survey , smartwatch shipments in India declined by 27.4 % YoY to 9.3 million building block in Q2 , down from nearly 12.8 million . Counterpoint separately confirmed to TechCrunch that concord to its analysis , the Indian smartwatch grocery dipped by as much as 30 % YoY.
Earlier this twelvemonth , TechCrunch reported that Amerind smartwatch playersfaced pressurefrom the sudden rise of unknown blade . found name , meanwhile , have failed to distinguish themselves in the market . Some have start out diversifying intoother segment , let in smart rings , for revenue .
IDC reported the share of smartwatches in the overall wearable marketplace dropped to 31.5 % from 39 % a twelvemonth prior .
“ Innovation fatigue or hardware exhaustion is the prime reason why the smartwatch market in India is correct , ” Vikas Sharma , IDC ’s senior securities industry analyst for smart wearable gimmick , differentiate TechCrunch . “ Most local brand are launch model without any young characteristic . ”
The top three thespian in the Amerind smartwatch securities industry are all domesticated make : Noise , Fire - Boltt and boAt . All saw a meaning pickpocket in Q2 . The average selling price of smartwatches in India also declined to $ 20.6 from $ 25.6 a twelvemonth ago as brands have cut Mary Leontyne Price to clear inventories .
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But cost cut have failed to pull in customers .
“ consumer are not warming up to buying a fresh smartwatch or replacing an existing one due to scurvy differentiation in terms of features and limited innovation in the market , ” Anshika Jain , a senior psychoanalyst at Counterpoint , enjoin TechCrunch .
Jain added that smartwatches ’ appeal primarily tug their hyper - growth in India over the past few years . However , she observe that this growth phase is now chill down as the initial excitement of the segment is sharpen off .
“ This is also reflect in the dwindling increase rates and a bleak outlook , ” the analyst say .
Unlike simpler model , advanced smartwatches ( which have an app store and run a full - mature operating system ) , ascertain an increase of 21.9 % , with their market share growing to 2.5 % from 1.5 % , IDC reports .
However , the business firm confirmed to TechCrunch that Apple and Samsung reckon a decline in their quarterly shipment of around 29 % and 26 % in their respective market share .
Apple capture 0.5 % of the overall smartwatch market in India by send around 35,000 - 40,000 Apple Watch units in Q2 , while Samsung had a 0.9 % contribution with 75,000 - 80,000 units transport during the quarter , the firm said .
Sharma said that the grocery part dip for Apple and Samsung was cyclical .
“ Samsung introduced new sentry at the closing of Q2 along with no bundle offering ; also , thanks to on-line sale , masses normally wait for business deal to come on higher price watches . For some clip , Samsung had kibosh the bundle offer [ that used to cost its smartwatches to customers at around $ 36 when purchasing with a flagship smartphone ] , ” he stated .
The analyst also note that the Apple Watch batting order is due for an update , so the company has mostly focalize on enlighten out old lineage .
The overall advance smartwatch section saw an increase in its share as some Indian companies launch new model running Android OS . That ’s full Android — not Wear OS — along with the Play Store . Some companies refer to the devices as“WristPhones,”as they add up with a nano SIM identity card slot and have spokesperson call reinforcement .
Nevertheless , IDC forecasts the nation ’s yearly smartwatch shipments declining by 10 % . Similarly , Counterpoint believe India ’s smartwatch will find a twofold - fingerbreadth percentage drop this year .
Headphone shipments flatten
Alongside smartwatch declivity , headphones numbers remained flat in India , per IDC , with 20.1 million units shipped in Q2 . That comprise 0.7 % YoY development . The true wireless stereo ( TWS ) segment grew 9.1 % YoY to a share of 71 % from 65.5 % a yr ago . However , tethered ( or neckband - styled ) and over - ear headphones — which IDC chunk together — declined by 16.1 % to 5.8 million unit .
Domestic brands continue to dominate the section in India , be by Taiwanese smartphone vendor Oppo and its sub - brand Realme . Apple ( and its underling Beats ) and Samsung ( including sub - brands JBL , Infinity and Harman ) , meanwhile , accounted for 0.9 % and 2.3 % of total headphone loading .
Sharma of IDC tell TechCrunch that the cutpurse in the headphone segment is temporary , as demand for TWS earbuds still exists .
India also obtain a substantial telephone number of non - branded earbuds , which are available online and in stores . IDC does not track those unit , however .
“ Q3 will be very prominent [ for earphone ] compared to Q2 , ” Sharma said . In contrast , smartwatches are not likely to see growth until at least 2026 , according to Jain .
“ In 2026 and beyond , we expect the market to regain , drive by raw use of goods and services cases in smartwatches , ” she said .
