“An Uncertain Shift: Lesser-Known Brands Shake Up India’s Smartwatch Market”
India’s smartwatch market in flux as unknown brands challenge heavyweights The world's biggest smartwatch market has seen a deluge of new devices in the past few monthsIndia’s smartwatch market has transformed, seemingly overnight.
Hong Kong-based market analyst firm Counterpoint Research has observed the number of unknown brands in the Indian smartwatch market has grown from 78 in 2021 to 128 in 2023.
Declining pricesThe growth of unknown brands in the Indian smartwatch market has not yet significantly impacted all the local firms dominating the market.
Last year, smartwatch brands boAt and Noise entered the smart ring market in India to diversify their product catalog.
That said, market analysts like IDC’s Sharma predicts the Indian smartwatch market will see only single-digit growth this year due to stiff competition from unknown brands and dropping ASPs.
