Decline in Wearable Device Shipments: India's June 2024 Quarter Faces Setback

Wearable device shipments in India fell by 10% in the June 2024 quarter to 29.5 million units, driven by unsold stocks and less innovation. Oppo and OnePlus saw a 35.8% drop, followed by Fire-Boltt and Noise. Boult was the only brand to record a shipment increase. The average selling price also decreased.

India's wearable device market experienced its first-ever decline, dropping by 10% in the June 2024 quarter to 29.5 million units, as reported by IDC. This fall is attributed to unsold stocks of older models and a lack of innovation in the market.

Oppo, including OnePlus, reported the largest drop in shipments at 35.8% year on year, followed by Fire-Boltt with a 24.3% decrease. Noise saw a 13.9% decline, and boAT dropped by 9.8%. Boult emerged as the only brand among the top five to register a 9.6% increase in shipments.

Despite the overall decline, boAT led the wearable segment with a 26.7% market share, trailed by Noise at 13%, Boult at 8.1%, Fire-Boltt at 8%, and Oppo-mixed with OnePlus- at 7.6%. The average selling price of wearables also hit a record low of USD 18.8.