Smartwatches in India cost at least Rs 3,000 two years ago, but now you can find calling smartwatches for Rs 1,000-1,500. India's wearable gadget market is growing at a rate of 53.3 percent annually. According to data released by International Data Corporation (IDC), the wearable gadget market in India witnessed a strong annual growth of 53.3 per cent with shipping of 57.8 million units in the first half of 2023.
The first half saw shipments of 32.8 million wearables, followed by an annual growth of 37.2 percent. The half yearly growth rate has been 30.6 percent. Smartwatch shipments totaled 12.8 million during the second quarter, more than double the year-ago quarter. During this period, the shipment of earwear (earbuds or headphones) has registered an annual growth of 15.2 percent.
Reduction in the average price of smartwatches
It is worth noting that there has been a drop of 44.9 percent in the average price of smartwatches, after which the average price has come down from Rs 3,860 to Rs 2,120. The overall wearable gadget price fell by around Rs 1,739 during the quarter. All this has happened in just one year. Many companies are launching watches of different designs in the Indian market. Domestic companies dominate the wearable market.
(pc amarujala)
