India’s Wearable Device Market Sees First-Ever Decline, Dips 10% YoY in 2Q24

According to International Data Corporation’s (IDC) India Monthly Wearable Device Tracker, India’s wearable device market declined for the first time ever, by 10.0% year-over-year (YoY) to 29.5 million units ??. The first half of 2024 declined by 4.7%, shipping 55.1 million units ??. Cautious inventory stocking by the vendors with a focus on clearing the old stock before the festive season begins and fewer new launches were the key reasons for this decline ??. The average selling price (ASP) for the overall wearables also hit a record low, declining by 10.3% from US$21.0 to US$18.8 in 2Q24 ??

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Anand Priya Singh Vikas Sharma Jyoti Janda Rajeev Ranjan