According to International Data Corporation (IDC), a global market intelligence and advisory services provider, shipping in the first half of 2024 declined by 4.7 per cent, shipping 55.1 million units.
Cautious inventory stocking by the vendors with a focus on clearing the old stock before the festive season begins and fewer new launches were the key reasons for this decline, as per the report.
The average selling price (ASP) for the overall wearables also hit a record low, declining by 10.3 per cent from USD 21.0 to USD 18.8 in the second quarter of 2024, the tracker maintained by IDC showed.
The smartwatch category continued to struggle, declining by 27.4 per cent year-on year to 9.3 million units. The share of smartwatches within wearables dropped to 31.5 per cent from 39.0 per cent in second quarter of 2023.
"Channel inventory, especially of previous generation models, and innovation exhaustion are restricting growth," the IDC said.
Smartwatch average selling price dropped to USD 20.6 from USD 25.6 a year ago due to price cuts to clear inventory and discounts/ offers by brands, advanced smartwatches grew by 21.9 per cent, with market share increasing from 1.5 per cent to 2.5 per cent, the tracker said.
Diese Geschichte stammt aus der August 09, 2024-Ausgabe von The Business Guardian.
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Diese Geschichte stammt aus der August 09, 2024-Ausgabe von The Business Guardian.
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LANDMARK VERDICTS BY CJI CHANDRACHUD
DY. Chandrachud, who served as the 50th Chief Justice of India, retired from his post on Friday. Here isa snapshot of some of the most significant verdicts that he delivered.
SBI's net profits soar 28% in July-September quarter
SBI's net interest income rose 5.37 per cent to Rs 41,620 crore in the September quarter. Both quarters combined, it grew 5.54 per cent to Rs 82,745 crore.
Scalene Coffee Research Organization develops COPTERS
Scalene Coffee Research Organization, a member of Organisation De Scalene Foundation, a global leader in sustainable technology innovations, announces the launch of COPTERS (Coffee Pulping Water Recovery System) Technology, a groundbreaking water recovery system developed to reduce water wastage in the coffee pulping process drastically by recovering almost 90% of pulped water.
HealthEdge expands employer presence in India
HealthEdge, a visionary leader in the healthcare technology industry, proudly announces the opening of its new office in Bangalore.
HIT SIGNS MOU WITH GLOBAL CYBER UNIVERSITY
Hindustan Institute of Technology and Science (HITS) has strengthened its international ties by signing a renewed and extended MoU with the Global Cyber University (GCU) of South Korea.
MANAGEMENT CHANGES BEFORE AIR INDIA-VISTARA MERGER'
A head of the Air India and Vistara merger scheduled on November 12, the Air India Group on Friday announced a number of management changes.
India will develop complete solar manufacturing ecosystem in 4-5 years
India will develop the complete ecosystem of solar equipment manufacturing in the next four to five years compared to other countries which have taken over 20 years says Vineet Mittal, Founder and Chairman of Avaada Group.
Same sex marriage not legal in India
LGBTQ COMMUNITY
Sabarimala Temple
On 28 September 2018, a 4:1 majority of the Supreme Court held that barring women of menstruating age from entering the Sabarimala temple was unconstitutional.
WHAT CJI SAID
Not every resource owned by an individual can be considered a material resource of a community only because it meets the qualifier of material needs.
