Wearable devices market share by vendor in India Q3 2024

BoAt by Imagine Marketing had the largest share in India's wearable devices market, at more than 32 percent, in third quarter of 2024. The overall market growth saw a 20.7 percent year-over-year decrease that quarter, shipping over 38 million units of wearables. Smart wristband shipments decreased the most during the same period of time for more than 48 percent. 

Wearable devices in India

The wearable device market has been booming in India since 2018. Basic wearables dominated the Indian market. Smart wearables also registered a jump in the sales volume. Ear wear was the most shipped wearable device in the country in 2022. Health concerns were the primary motivating factor for people to buy wearable devices in India.

Xiaomi – a success in India

Xiaomi was founded in 2010 and had an operating income of over 28 billion yuan in 2022. Since 2018, the company shipped over million shipments of smartphones each year across the world. Its logo MI stood for mobile internet, as well as included the meaning mission impossible to denote the hurdles it had to overcome in the beginning. The product portfolio comprised of a vast variety of products such as smartphones, laptops, televisions, home appliances, headphones as well as fitness and lifestyle-related products.