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Top wearables brands such as Boat and Gizmore are making most products locally in key categories audio and smartwatch through electronics contract manufacturers such as Dixon Technologies and Optiemus Electronics, several industry executives ET spoke to have said.
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Wearables Production: Top wearables brands such as Boat and Gizmore are making most products locally in key categories audio and smartwatch through electronics contract manufacturers such as Dixon Technologies and Optiemus Electronics, the people added.
Little by little, India is chipping away at the Great Wall. Last week, research firms raised their 2024 forecast for wearable device shipments from India on account of the exponential increase in demand and fall in average selling prices. Part of the reason companies can maintain a low price is because they are ramping up local assembly of products, a move that is costing China. This and more in todays ETtech Top 5.
Indian Wearable Brands: As per IDC, India-based smaller players who cumulatively hold >15% share are further lowering the overall average selling prices (ASPs). The ASP was at Rs 1,800 ($22.7) in 1Q23 compared to Rs 2,400 ($29.5) in 1Q22.