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Upasana Joshi, Research Manager, Client Devices, IDC India, said that H1 2023 logged “hundreds of smartwatch model launches” with premium finishing, sporty appearances, rugged builds, and a variety of strap finishes.
The Indian wearables market shipped 57.8 million units in the first half of 2023, achieving a strong 53.3% on-year growth with smartwatches leading the charge with 128.6% on-year growth, according to a new report. The share of smartwatches in the wearables segment reached 40.0%, up from 26.8% a year ago, while the earwear category grew 27.3% in 1H23, as per IDC India.
The Indian smartphone witnessed a YoY dip of 10% in the first half of 2023. The market shipped a total of 64 million units in 1H23
The research firm also noted a decline in average selling prices after several consecutive quarters of growth, with ASPs declining 8% sequentially to $241 in Q2. However, average prices were still 13% higher than a year ago. "Consumers are opting for premium offerings, driven by easy and affordable financing options. IDC expects this growth momentum to continue in the upcoming months in 2023," said Upasana Joshi, Research Manager, Client Devices, IDC India.