Wearables cos go premium, eye overseas as local sales dip

India’s entry-level wearables market, once the hottest segment in consumer electronics, is cooling as demand tapers.

- Sakshi Sadashiv & Sowmya Ramasubramanian

Companies in the space such as initial public offering (IPO)-bound boAt and rivals, Noise, Fire-Boltt, and GoBoult have a contrarian fix: they are betting that a shift in focus to premium products and overseas markets will offset the slowdown and bring back the mojo.

The underlying trend that is egging these companies is a slight uptick in prices of wearables in recent months. The average selling price (ASP) for wearables rose from $20.60 to $21.70 year-on-year in Q2 2025, according to data by IDC, a research firm.

This, even as, India’s wearables market fell 11.3% yo-y in calendar 2024 to 119 million units—the first annual decline for the category. See chart on how Q2 shipments stack up against last year, category by category.