Watch-based wearables continued to be the fastest-growing category shipping 6.4 million units, a growth of 298.4% year-on-year

Watch-based wearables continued to be the fastest-growing category shipping 6.4 million units, a growth of 298.4% year-on-year

Bengaluru

India shipped 38 million units of wearables in the first half of calendar 2022, marking a year-on-year growth of 66%, the International Data Corporation (IDC) said on Wednesday.

According to IDC’s India Monthly Wearable Device Tracker, 23.9 million wearable devices were shipped in the second quarter (April-June), growing by 113% year-on-year, while 38 million units were shipped in the first and second quarter put together. Affordability remained a key growth lever and the average selling price (ASP) declined by 7.2% year-on-year in Q2, IDC reported.

Watch-based wearables continued to be the fastest-growing category shipping 6.4 million units, a growth of 298.4% year-on-year. With a strong push for entry-level price points, the ASP declined by 28.9% year-on-year to reach $45.1 against $63.4 a year ago, according to the IDC.

Also, basic watches continued to dominate with 95.2% share growing by 306.4% annually in the second quarter, while wrist bands declined by 63.0% year-on-year as weaker demand continues to restrict its growth.

Hearables accounted for 72.6% of the overall wearables category. Truly wireless (TWS) now accounts for half of the earwear shipments growing by 187.4% year-on-year, the analyst firm further said. “Brands continue to compete on lowering the price points. The features earlier available at mid/high price points such as Bluetooth calling, bigger screen sizes, and AMOLED displays are getting introduced at lower price points. This is attracting both first-time users and upgraders,” said Upasana Joshi, Research Manager, Client Devices, IDC India.



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