Wearable devices market share by vendor in India 2022

BoAt by Imagine Marketing had the largest share in India's wearable devices market, at more than 29 percent, in 2022. The overall market growth saw a 46.9 percent year-on-year rise that year, shipping over a billion units of wearables. Smartwatch shipments increased the most during the same period of time for more than 151 percent.

Wearable devices in India

The wearable device market was booming in India since 2018. Basic wearables dominated the Indian market. Smart wearables also registered a jump in the sales volume. Earwear 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 26 billion yuan in 2021. 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.