Although smartphones are not showing any signs of recovery in 2023, the wearable market continues to grow, especially in India. According to a report, the country recorded a robust 80.9% year-over-year growth in the first quarter of 2023, with 25.1 million wearable units shipped. Much of this growth can be attributed to the home-grown brand BoAT, which has managed to be on top in terms of sales, surpassing the behemoths like of OnePlus, Oppo, and Samsung. Here are the details.

BoAT maintains the Top Place with a 25.6% share

According to the latest IDC report, India shipped a whopping 25.1 million wearables in the first quarter of 2023, which is a massive 80.9% more compared to the same period last year. However, the numbers stayed the same compared to the previous quarter. Category-wise, smartwatches gained more popularity with a 41.4% share, registering a massive jump from 26.8% a year ago. Hearables also saw a huge increase in sales, with a 48.5% year-over-year growth.

Top 5 wearable companies India

BoAT’s boat is riding steadily in the tides of growth. The company managed to be the top dog in the country with a 25.6% share. The home-grown brand has been witnessing impressive growth, with a crazy 102.4% year-over-year increase. The company is majorly dominating in the TWS (True Wireless Stereo) segment, with a massive 30.6% share, which is an impressive 81.9% more compared to last year.

After BoAT, Fire–Bolt has the second spot in the Indian wearable market with a 12.4% share in 1Q23. Big names from China— Oppo and OnePlus— share the fifth position with a 4.7% share and declining shipments with – 5.8% in 1Q23. Samsung is nowhere in sight and the reason could be the brand’s more expensive lineup of wearables.

RELATED:

(Source)

RELATED ARTICLESMORE FROM AUTHOR