Published
Jun 1, 2022
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Indian demand for smart wearables continues to rise despite inflation

Published
Jun 1, 2022

Smart wearables are continuing to see record sales growth in India, despite retail inflation, thanks to high demand and reductions in the average selling price.

Boat's products include a range of wearables, which it aims to manufacture a greater portion of in India - Boat


In the first quarter of 2022, smartwatches witnessed record 173% year-on-year growth, according to findings by according to Counterpoint Research, accessed by ET Bureau. The wireless earbuds segment also saw 66% year-on-year growth during the same time period. 

Consumer demand for handsets and appliances has not fared so well in the face of inflation, however, due to higher retail prices. The increasingly accessible price points of smart wearables is making them more inflation-proof, according to Counterpoint Research. 

The average selling price of a smartwatch in India had fallen from Rs 8,500 in 2020 to Rs 5,400 in 2021 and this trend is set to continue into 2022. Many smartwatch brands are looking to expanding into the Rs 2,000 to Rs 3,000 price segment in 2022 to widen their customer base, according to Counterpoint Research’s senior research analyst Anshika Jain, ET Bureau reported. The drop in average smartwatch prices has enabled a consumer shift from smart bands to smartwatches. 

The government plans to begin adding import duties to wearables and hearables imports from next year, it previously announced in a statement. In response to this, numerous domestic brands, including Noise, are manufacturing their products in India. Market leader Boat is also working on shifting part of its manufacturing segment to India. 

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