Daybreak Why the clock is ticking for Indian smartwatch makers
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Dec 9, 2024 The Indian smartwatch market is facing a tough time after a boom just a year ago. Popular brands like Boat and Noise are losing their appeal as new budget-friendly competitors enter the scene. Consumer demand has sharply declined, prompting established brands to rethink their strategies. Some are shifting focus towards audio technology to adapt to market saturation. It's a fascinating look at how quickly trends can change in the tech landscape!
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Indian Smartwatch Market Decline
- The Indian smartwatch market has shifted from rapid growth to a decline in just one year.
- Brands like Boat and Noise, initially successful, are now losing market share.
Market Saturation and Competition
- The Indian smartwatch market is flooded with white-label products from China, making it easy for new brands to enter.
- This low barrier to entry has led to intense competition and a "bloodbath" for established brands.
Consumer Preferences and Brand Downfall
- Affordable smartwatch brands primarily target consumers who view smartwatches as fashion accessories, not fitness or medical tools.
- This focus on aesthetics over functionality has contributed to the downfall of some brands as consumers become more discerning.