India smartwatch shipments grew 21% year-on-year YoY within the third quarter Q3 of 2023 (Q3 2023) with the market share of home manufacturing reaching the best ever at 82% in comparison with 4% a yr in the past, a report stated.
In accordance with a report by Counterpoint Analysis, the expansion in shipments was pushed by excessive stock build-up for the festive season gross sales in October. Moreover, options like bigger screens and OLED shows trickling right down to the lower cost bands helped within the progress of Rs 2,000-Rs 3,000 worth band choices.
Moreover, the market’s general common promoting worth (ASP) declined 41% YoY with smartwatches even accessible for lower than Rs 1,000.
Home manufacturers lead the market
Fireplace-Boltt led the market with a 28% share – a slight drop from 28.8% final yr – and sported the widest portfolio. It additionally had the bottom ASP (common promoting worth) among the many high three gamers.
Noise captured the second spot with a 24% share, which dropped from 29.7% a yr in the past. Boat, which additionally noticed a decline of share from 20.5% a yr in the past, secured the third spot with a 16% share.
Titan sub-brand Fastrack registered the best annual progress among the many high 5 manufacturers. It captured the fourth spot with an 8% market share. It had 0.3% share a yr in the past. In the meantime, beatXP entered the highest 5 for the primary time and captured 4.7% market share.
Different manufacturers, which additionally contains Apple, witnessed a cumulative decline from 20.6% a yr in the past to 18.6% in Q3 2023 .
In accordance with the report, Apple shipments declined by 52% as its new sequence grew to become accessible in late September. Nevertheless, it remained the market chief within the greater than Rs 20,000 retail worth band.
In accordance with a report by Counterpoint Analysis, the expansion in shipments was pushed by excessive stock build-up for the festive season gross sales in October. Moreover, options like bigger screens and OLED shows trickling right down to the lower cost bands helped within the progress of Rs 2,000-Rs 3,000 worth band choices.
Moreover, the market’s general common promoting worth (ASP) declined 41% YoY with smartwatches even accessible for lower than Rs 1,000.
Home manufacturers lead the market
Fireplace-Boltt led the market with a 28% share – a slight drop from 28.8% final yr – and sported the widest portfolio. It additionally had the bottom ASP (common promoting worth) among the many high three gamers.
Noise captured the second spot with a 24% share, which dropped from 29.7% a yr in the past. Boat, which additionally noticed a decline of share from 20.5% a yr in the past, secured the third spot with a 16% share.
Titan sub-brand Fastrack registered the best annual progress among the many high 5 manufacturers. It captured the fourth spot with an 8% market share. It had 0.3% share a yr in the past. In the meantime, beatXP entered the highest 5 for the primary time and captured 4.7% market share.
Different manufacturers, which additionally contains Apple, witnessed a cumulative decline from 20.6% a yr in the past to 18.6% in Q3 2023 .
In accordance with the report, Apple shipments declined by 52% as its new sequence grew to become accessible in late September. Nevertheless, it remained the market chief within the greater than Rs 20,000 retail worth band.
