India’s smartwatch shipments stagnate in Q1 2024 as replacement cycles lengthen: Counterpoint

NEW DELHI: Smartwatch shipments in India grew by only 0.3% year-over-year in Q1 2024, marking the bustling market’s first-ever stagnation, Counterpoint said in a report released Thursday. The research firm said smartwatch shipments were on a high growth trajectory over past few years driven by a high demand, and the muted growth indicates declining replacement rates due to limited differentiation and innovation among key players.