India's wearable devices market dips by 10% to 29.5 mn units in Q1: IDC

Wearable device shipments in India recorded the first-ever decline, falling by 10 per cent in June 2024 quarter to 29.5 million units, due to large unsold stocks of old models and lower level of innovation in the segment, market research firm IDC said on Thursday.

According to the report, Oppo along with OnePlus had the biggest fall in shipment of 35.8 per cent year on year (YoY). It was followed by Fire-Boltt whose wearable shipment declined by 24.3 per cent, Noise with a drop of 13.9 per cent, and boAT 9.8 per cent year on year.

Boult was the only player among top five brands, which recorded a 9.6 per cent jump in the shipment.

Despite decline in total shipment, boAt (Imagine Marketing) led the wearable segment with 26.7 per cent share, followed by Noise (Nexxbase) with 13 per cent share, Boult 8.1 per cent, Fire-Boltt 8 per cent, Oppo (combined with OnePlus) 7.6 per cent.

"Cautious inventory stocking by the vendors with a focus on clearing the old stock before the festive season