Overview:
India’s smartwatch shipments grew 21% YoY in Q3 2023 (July-September), according to the latest research from Counterpoint’s IoT Service. The growth was driven by high inventory build-up for the festive season sales in October. Some interesting insights include
- Fire-Boltt led the market with a 28% share, followed by Noise and boAt.
- Titan sub-brand Fastrack registered the highest annual growth among the top five brands.
- beatXP entered the top five for the first time.
- The market’s overall ASP declined 41% YoY with smartwatches even available for less than INR 1,000.
- The share of domestic manufacturing reached the highest ever at 82%, compared to just 4% a year ago.
This research note also includes detailed insights about India’s smartwatch market growth drivers, analysis of top five and other emerging smartwatch brands in the Indian market and the overall 2023 smartwatch market outlook.
Number of Pages: 2
Publishing date: November, 2023