India shipped 38 million units of wearables in first half of 2022: IDC
The Hindu
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.
Erran Berger, the Vice President of Product Engineering at LinkedIn, thinks the former type of division of labour is rapidly disappearing
India mandates oil and gas firms to share import and export data to mitigate consumer shortages amid rising global prices.
HDFC Bank's chairman Atanu Chakraborty resigns over ethical concerns; Keki Mistry appointed interim chairman for three months.
Stock markets continue to rise for the third day as Sensex and Nifty gain nearly 1%, fueled by IT stocks.
Indian-flagged vessels in the Strait of Hormuz carry 2 lakh MT LNG and 16.7 lakh MT crude, amidst geopolitical tensions.
Equity analysts downgrade earnings forecasts for oil marketing companies, citing rising costs and market pressures for fiscal 2027.
Plastic product prices may surge by 50-60% in April due to rising polymer costs amid ongoing geopolitical tensions.
Centre offers 10% more LPG to States that accelerate piped gas rollout amid ongoing supply challenges and increased consumer demand.
Indian-flagged vessels in the Strait of Hormuz carry 2 lakh MT LNG and 16.7 lakh MT crude, amidst geopolitical tensions.
Stock markets continue to rise for the third day as Sensex and Nifty gain nearly 1%, fueled by IT stocks.
Rising oil prices and LPG shortages are driving India's shift to electric cooking, offering cost-effective and energy-efficient alternatives.
The rupee fell to a record low of 92.63 against the dollar, while equities surged with Sensex up 633.29 points.
Alibaba is sharpening its artificial intelligence strategy by focusing on agents that connect the many businesses under its sprawling corporate umbrella.