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 very best ever at 82% in comparison with 4% a 12 months in the past, a report mentioned.
In line 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 cheaper price bands helped within the development of Rs 2,000-Rs 3,000 value band choices.
Moreover, the market’s general common promoting value (ASP) declined 41% YoY with smartwatches even accessible for lower than Rs 1,000.
Home manufacturers lead the market
Hearth-Boltt led the market with a 28% share – a slight drop from 28.8% final 12 months – and sported the widest portfolio. It additionally had the bottom ASP (common promoting value) among the many prime three gamers.
Noise captured the second spot with a 24% share, which dropped from 29.7% a 12 months in the past. Boatwhich additionally noticed a decline of share from 20.5% a 12 months in the past, secured the third spot with a 16% share.
Titan sub-brand Fastrack registered the very best annual development among the many prime 5 manufacturers. It captured the fourth spot with an 8% market share. It had 0.3% share a 12 months 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 Applewitnessed a cumulative decline from 20.6% a 12 months in the past to 18.6% in Q3 2023 .
In line with the report, Apple shipments declined by 52% as its new sequence grew to become accessible in late September. Nonetheless, it remained the market chief within the greater than Rs 20,000 retail value band.
In line 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 cheaper price bands helped within the development of Rs 2,000-Rs 3,000 value band choices.
Moreover, the market’s general common promoting value (ASP) declined 41% YoY with smartwatches even accessible for lower than Rs 1,000.
Home manufacturers lead the market
Hearth-Boltt led the market with a 28% share – a slight drop from 28.8% final 12 months – and sported the widest portfolio. It additionally had the bottom ASP (common promoting value) among the many prime three gamers.
Noise captured the second spot with a 24% share, which dropped from 29.7% a 12 months in the past. Boatwhich additionally noticed a decline of share from 20.5% a 12 months in the past, secured the third spot with a 16% share.
Titan sub-brand Fastrack registered the very best annual development among the many prime 5 manufacturers. It captured the fourth spot with an 8% market share. It had 0.3% share a 12 months 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 Applewitnessed a cumulative decline from 20.6% a 12 months in the past to 18.6% in Q3 2023 .
In line with the report, Apple shipments declined by 52% as its new sequence grew to become accessible in late September. Nonetheless, it remained the market chief within the greater than Rs 20,000 retail value band.
