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Wearables hit a roadblock as smartwatch stumbles in 2024
Voice and Data
|August 2024
India's wearable market faces its first decline as smartwatches struggle with oversupply and innovation fatigue, while earwear remains steady
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The wearable device market in India has experienced its first-ever decline, with shipments falling by 10% year-over-year (YoY) to 29.5 million units in the second quarter of 2024. According to IDC's India Monthly Wearable Device Tracker, this downturn marks a significant shift in the market dynamics. The first half of 2024 also saw a 4.7% decline, with 55.1 million units shipped, reflecting a cautious approach by vendors to inventory management as they focused on clearing old stock ahead of the festive season.
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