India wearable market grows 34% in 2023: report

The Indian wearable market grew 34% in 2023 recording 134.2 million units, with smartwatch shipments surging 74% year-on-year (YoY) to 53.2 million units, suggests a new report from IDC.

The report noted that though the festive period saw several new launches along with promotional offers and discounts, “there was an overstocking situation through the second half of 2023”.