India’s wearables market registered growth in the first quarter of 2022, driven by a surge in demand for watches, new launches and heavy discounts, IDC reported.
Shipments increased 20.1 per cent year-on-year to 13.9 million units, while the ASP of the overall category dropped 17.1 per cent.
Watch shipments jumped 173 per cent to 3.8 million units, as the ASP fell 41.5 per cent to $50.30.
IDC stated lower prices fuelled demand for basic watches, which grew 202.1 per cent and accounted for 95.1 per cent of shipments in the segment.
Smartwatch shipments fell 4.2 per cent.
Anisha Dumbre, senior market analyst at IDC India, explained “aggressive discounts, new features and a strong push from brands and channel partners” encouraged consumers to “upgrade and spend more on wearable watches”.
Earwear shipments rose 4.9 per cent to 9.9 million units, accounting for 71.3 per cent in the wearables category.
The wrist band segment booked a ninth consecutive quarter of annual declines, falling 65.9 per cent to 259,100 units.
IDC India research manager Upasana Joshi said the outlook for 2022 is strong, as vendors “try to attract users in tier-two and tier-three cities”.
“The healthy growth is attracting newer players to the market, as brands in the other devices and accessory space are entering.”Subscribe to our daily newsletter Back