India's wearable device market sees first ever decline; falls by 10% YoY Q2 2024

India's wearable market saw a 10% decline in Q2 2024, with total shipments falling to 29.5 million units. Smartwatch demand decreased significantly, contributing to the overall dip. Earwear sales remained stable. Brands prioritized clearing old inventory and are expected to launch new models during the festive season. Analysts anticipate annual smartwatch shipments to drop by 10% in 2024.