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Sales Of Indian Wearables: For instance, as per Counterpoint Research, the share of domestic manufacturing in smartwatch reached 82% in July-September as compared to just 4% a year ago. For the true wireless segment (TWS), the share of local manufacturing increased to 37% in the September quarter from 16% in the previous quarter.

Wearables and hearables are the only electronic categories in India dominated by home grown brands who together have 65-70% market share even when competing against global companies like Apple, Samsung and OnePlus. Palred Electronics, which owns pTron, revenue is Rs 148 crore in FY23 as compared to Rs 106 crore in FY21, while it posted a net loss of Rs 2 crore last fiscal as against Rs 4.3 crore profit in 2020-21.