Indian wearables market grows 20.1% to 13.9 mn units in Q4: IDC

NEW DELHI: The Indian wearables market grew 20.1 per cent year-on-year to 13.9 million units in Januarymarch 2022, according to data released by International Data Corporation (IDC) on Monday.

International Data Corporation said the growth can be attributed to new launches, discounts across channels, and aggressive marketing by brands.

Watches shipment jumped 173 per cent year-on-year to 3.7 million units in March 2022 quarter.

“Basic watches accounted for 95.1 per cent of the overall watch category shipments. Aggressive competition at entry-level price points helped the basic watches grow 202.1 per cent Year-on-year, whereas the smartwatch shipments declined 4.2 per cent annually,” the report said.

Overall wristwear (which includes watches and wrist bands) rose 87.5 per cent in the March quarter, with a total shipment of 4.0 million units, according to the report.

The earwear category accounted for 71.3 per cent of the overall wearables category. The truly wireless stereo (TWS) share increased to 48.3 per cent from 34.2 per cent in March 2021 quarter, registering a 48.2 per cent year-on-year growth rate, the IDC report said.

The average selling price of the overall category declined 17.1 per cent year-on-year primarily due to a stronger decline in the ASP of watches, which continued to be the fastestgrowing category.

The ASP of the watches declined 41.5 per cent yearon-year to reach $50.3 during the reported quarter compared to $86.0 in the same quarter last year.