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.
Denne historien er fra August 09, 2024-utgaven av The Business Guardian.
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Denne historien er fra August 09, 2024-utgaven av The Business Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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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.
