India Smartwatch Market Records Single-Digit Decline in Q4 2025, Premium Demand Strengthens
- India’s smartwatch shipments declined 9% YoY in Q4 2025, with the pace of decline slowing down due to a favorable base effect.
- The market is shifting toward premium smartwatches, with people choosing better features like AMOLED screens, improved health tracking and built-in GPS. This is also pushing up average selling prices (ASPs).
- Noise retained market leadership in Q4, followed by boAt, with both focusing on higher-value upgrades and better-quality smartwatches. Apple drove the premium segment demand with its latest Watch models.
- The market is set to enter a growth phase in 2026 driven by replacement demand, with purchase decisions increasingly focused on health features, sensor accuracy, and ecosystem integration.
New Delhi, Beijing, Berlin, Buenos Aires, Fort Collins, Hong Kong, London, Seoul, Taipei, Tokyo – April 14, 2026
India’s smartwatch market declined 9% YoY in Q4 2025, according to Counterpoint Research’s Consumer IoT Service, due to a slowdown in the budget segment, which is facing saturation and limited innovation. The decline appeared moderate due to a favorable base effect, with comparisons against a weaker Q4 2024 following the 2023 peak.
At the same time, festive demand pushed up average selling prices (ASPs) as consumers shifted toward higher-value smartwatches. Apple’s growing presence in the premium tier is intensifying competition for local brands, boosting volumes in that segment and helping cushion the overall decline. This shift from volume-led to value-led growth reflects a more mature market with a gradually improving outlook.
Commenting on the market dynamics, Principal Analyst Anshika Jain said, “In Q4 2025, India’s smartwatch market transitioned into a more stable and value-driven phase, as consumers began shifting beyond entry-level devices. This upgrade cycle is driven by demand for key features like AMOLED displays, more accurate health tracking and built-in GPS, which pushed the Q4 ASP up by 16% YoY, with the INR 5,000-INR 10,000 segment emerging as the new mainstream. Growth is being reinforced by higher smartwatch attachment with smartphones, helped by easy financing and no-cost EMI options. Apple is seeing strong traction in this shift, as users prefer reliable performance and a stronger ecosystem with its latest Watch models, pointing to a more mature market with a positive growth outlook.”
In the premium
smartwatchsegment above INR 15,000, online channels are witnessing steady and fast growth, reflecting a clear shift in consumer preference toward digital platforms. This trend is supported by a wider product range, attractive pricing and greater convenience.
India Smartwatch Market Shipment Share by OEM, Q4 2025 vs Q4 2024
Source: Counterpoint Research India Smartwatch Shipments Model Tracker, Q4 2025
Note: Values may not add to 100% due to rounding
Brand strategies in Q4 2025
- Noise retained its market leadership despite an 18% YoY decline, prioritizing higher-value upgrades over volume expansion. The brand captured a 26% market share in Q4 2025, driven by the expansion of its AI Pro lineup. Further, backed by an investment from Bose and a partnership with TVS Motor Company, Noise strengthened its performance-driven brand image and remained well-positioned for its next phase of growth.
- boAt, with 16% market share in Q4 2025, shifted from a volume-led strategy to a more margin-focused approach, which is helping improve its position. The brand reduced entry-level models and focused on better-quality smartwatches for users looking to upgrade. Its Crest app upgrade is improving health tracking, while marketing efforts like the Google #boAtGeminiChallenge and use of AI tools are helping it stay relevant, especially among younger users. Along with offline expansion, this focused approach on quality, branding and reach is setting boAt up for steady and sustainable growth.
- Titan, including Fastrack, registered a decline of 14% YoY in volumes. Its ASP was also lower due to competitive pressures. The company shifted focus toward premium analog watches and a stronger product mix. Titan, with its distribution and brand power, is now repositioning its wearables business for more stable growth.
- GOBOULT saw a strong start in 2025, but as competition intensified and the overall smartwatch market slowed, its shipments declined 17% YoY during the quarter. The brand readjusted its strategy by shifting its focus from the entry price segment to the INR 2,500-INR 3,000 segment to improve profitability, although it continued to retain a selective presence in the sub-INR 1,000 segment to increase reach. Simultaneously, it forayed into the rugged outdoor segment with its Tuff series, establishing its brand identity with more rugged and design-oriented offerings.
- Apple ranked sixth, with its growth coming from the launch of Series 11, Ultra 3 and SE 3, which cover different premium price levels. Strong festive sales of the iPhone 16 and iPhone 17 increased the iOS user base, which helped drive Apple Watch demand. Wider retail presence, easy EMI options, and trade-in offers also made premium devices more affordable, supporting steady growth.
In 2026, the smartwatch market is poised for a more sustainable growth phase, led by replacement demand. Consumers will prioritize health benefits, sensor precision, and ecosystem integration, while premium adoption will be fueled by advanced applications like chronic disease monitoring, AI-driven insights, and cross-device connectivity. Looking ahead to 2026, industry growth is poised to be value driven, margin-friendly, and more sustainable than the initial volume-driven cycle of growth.
The comprehensive and in-depth ‘Q4 2025 India Smartwatch Model Tracker’ is available for subscribing clients.
Feel free to contact us here for questions regarding our latest research and insights. The Consumer IoT research relies on sell-in (shipments) estimates based on India imports, and local manufacturing data, triangulated with OEM feedback, channel feedback and secondary research.
You can also visit our Data Section (updated quarterly) to view CIoT market insights across other regions/countries.
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Counterpoint Research is a global industry and market research firm providing market data, intelligence, thought leadership and consulting across the technology ecosystem. We advise a diverse range of global clients spanning the supply chain – from chipmakers, component suppliers, manufacturers and software and application developers to service providers, channel players and investors. Our veteran team of analysts serve these clients through our offices located across the key innovation hubs, manufacturing clusters and commercial centers globally. Our analysts consistently engage with C-suite through to strategy, market intelligence, supply chain, R&D, product management, marketing, sales and others across the organization. Counterpoint’s key coverage areas: AI, Automotive, Cloud, Connectivity, Consumer Electronics, Displays, eSIM, IoT, Location Platforms, Macroeconomics, Manufacturing, Networks & Infra, Semiconductors, Smartphones and Wearables.