Overview:
The latest research from Counterpoint’s IoT service reveals that India’s Smartband market shipments declined 38% YoY and 29% QoQ in Q2 2022. The major reason for the decline was due to change in customer preference towards smartwatches as the ASP of smartwatches are decreasing continuously and offering better functionalities at the similar price point of a smart band. Xiaomi led the market with a 32% share, while OnePlus and Goqii took the second and third spots respectively. The INR 1,000-INR 2,000 price band captured over 40% of the total market in Q2 2022. This report analyses the shipments of Smartband splitting them on ASPs, price bands, and revenues along with channel split. It also includes model and specs level analysis.
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