India's wearable device market dropped 11.3% in 2024, with smartwatches hit hardest.
India's wearable device market saw its first decline in 2024, with shipments falling 11.3% to 119 million units. Smartwatch shipments dropped significantly by 34.4%, while earwear, especially Truly Wireless Stereo (TWS) devices, saw a 3.8% growth. The decline is attributed to a lack of innovation and technological advancements, leading to lower consumer demand. Meanwhile, the smart ring category saw a surge, with shipments increasing to 323,000 units.
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