Strong growth in India restricts slump in global wearable band shipments in 1Q23: Canalys, ET Telecom

Fifth-placed Indian Fire-Boltt saw its shipments skyrocket 198% year-over-year, from 0.9 million units in Q1 2022 to 2.7 million units in Q1 2023, helping the homegrown brand increase its market share from 2% to 7% in the same period. Xiaomi was the second brand to grow at 4% year-over-year.

NEW DELHI: The global shipments of wearable band shipments fell 1% year-over-year to 41.1 million units in Q1 2023 with the strong growth in India preventing a stronger decline, according to Canalys. The global basic band shipments continued to shrink, dropping 24% to 7.5 million units, as vendors and consumers continued to shift toward larger screens. In contrast, the global basic watch shipments boasted a strong 28% growth with 18.0 million units, driven by the surging demand in India. Shipments of smartwatches declined by 11%, to 15.8 million units, as per the research firm.