International Data Corporation (IDC) has released data for the third quarter of 2020 for smart watches and earphones. The company said that the overall wearable device market in India has grown 165.1% year-on-year. The greatest growth was observed in the headphone category, with a total of 4 million true wireless stereo (TWS) devices reportedly sold this quarter. The annual growth rate of the TWS category in the third quarter of 2020 is as high as 1156.3%. India’s overall wearable device market shipped 11.8 million units in the third quarter of 2020.
IDC’s latest report claims that wearable devices have become affordable in recent quarters, leading to increased shipments. In the third quarter of 2020, the average selling price of TWS earplugs also fell to US$57 (approximately Rs 4,200), a decrease of 48.6% year-on-year, leading to a large number of shipments and growth. The headphone category led by TWS earplugs grew by 26.5% year-on-year in the third quarter of this year.
IDC pointed out that Boat led the headphone category with a 32.4% market share in the third quarter, and Samsung ranked second with a 15% share. After shrinking to the TWS category, Boat once again led with a 26.1% share, while Realme ranked second with a 15.5% market share.
In addition to other categories of wearable devices, IDC said that although the wristband ring ratio increased by 83.3%, the shipment of wristbands in the first half of 2020 was steadily declining. Due to the decline in the first six months, the wristband category fell by 20.3% year-on-year. IDC said this is because users in India have begun to switch from wristbands to watches. In the wristband category, Xiaomi ranked first with a market share of 52.4%, and Realme ranked second with a market share of 14.6%.
The watch category grew 119.9% year-on-year in the third quarter. IDC said that the device shipments in this category were 778,000, “this is the largest quarter since the launch of this category in India.” IDC explained that this may be due to the average selling price of watches falling from US$175 (approximately Rs 12,900) in the third quarter of 2019 to US$111 (approximately Rs 8,200) in the third quarter of 2020. This encourages buyers to switch from wristbands to watches. Noise leads the market segment with 28.5% share, and Realme and Huami rank second with 24.2% share.
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